From AFP:
China on Tuesday tightened rules on advance sales of new property developments, in the third move of its kind in less than a week aimed at curbing rampant real estate speculation.
The Ministry of Housing and Urban-Rural Development said in a notice on its website that developers cannot receive down payments for unfinished properties without first obtaining government approval.
Once the government gives developers the green light to pre-sell properties, they must publish the prices of each unit in the development within 10 days of receiving approval, the ministry said.
