China’s first-tier cities tighten property policies

Rising prices: A farmer tills the soil of a vegetable plot in front of a construction site for a residential development on the outskirts of Shanghai. New home prices in Beijing, Shanghai, Shenzhen, and Guangzhou rose by 0.5%, month-on-month, in February. — Bloomberg

SHANGHAI: Shanghai residents who plan to buy new houses need to calculate their scores first and check whether they are eligible for a lottery system. The seemingly complicated rules rolled out in Shanghai recently can effectively ensure houses in this megacity be allocated to families with rigid needs.

Under the principle that housing is for living in, not for speculation, real estate control measures across China are gradually evolving to tackle housing problems in big cities.