Shanghai property market cools

Chinese and foreign tourists view the Pudong financial district skyline from the historic Bund in Shanghai. Property prices have soared in China’s biggest cities such as Shanghai and Beijing since last year. — AFP

BEIJING: Home prices in China’s financial hub of Shanghai will remain stable in 2017, as cooling measures have taken some heat out of the market, housing authorities were quoted as saying on Sunday.

Property prices have soared in China’s biggest cities such as Shanghai and Beijing since last year, prompting regulators to step up control to rein in the market to avoid a crash.