PROPERTY agencies in Shenzhen will be required to report the transaction price of pre-owned apartments and other relevant information of the previous month to the authority before the 7th day of each month, the city’s housing and construction bureau said in a notice recently, the Daily Sunshine reported Thursday.

All agencies shall be responsible for the authenticity and accuracy of the information, the bureau said.

For organizations that refuse to report, omit to report, give a false report, or make a wrong report, the city’s real estate regulatory department may intervene and take disciplinary actions.

The move is aimed at helping the bureau accurately grasp the real transaction situation of Shenzhen’s pre-owned housing market and provide research basis for the development of the real estate market.

On April 18 this year, the city’s housing and construction bureau issued a document, saying that it will take a hard line on irregularities in the housing market, such as maliciously bidding up apartment prices, and will intervene in the pre-owned housing market for three months.

At the end of May, the bureau issued a statement on its official WeChat account, and vowed to severely punish the behavior of driving up the selling price of pre-owned apartments.

According to the bureau, Shenzhen plans to supply 3 square kilometers of land for residential housing this year. Meanwhile, around 10 million square meters of commercial housing will be built to meet the market demand.

Shenzhen will also make available more than 80,000 units of public housing this year. It will pass relevant regulations to ensure housing allocation and address the housing problems of all kinds of workers, low-income families and migrants. (Zhang Yu)