A recent survey released by the largest party in Hong Kong's Legislative Council shows that more than half of the citizens share the discontentment on government's overall housing policies.
U.S. house prices rose 7.1 percent in the year through February, said the Federal Housing Finance Agency (FHFA) on Tuesday, indicating an increasingly confirmed recovery as many other housing indicators also suggest that the rebound in homebuilding activity is on firm footing.
China's average housing prices nationwide have more than tripled over the last decade, with some areas seeing prices grow by 10 times the original price. Experts are debating whether there is a bubble in the market and whether prices will continue to skyrocket.
Amid the public's calls for the government to stabilize housing prices, Premier Wen Jiabao said China will "firmly rein in" speculative and investment-driven housing demand.
China will strictly implement and improve housing market tightening measures and ensure that the policies remain steady, the State Council said Wednesday at the last executive meeting of the incumbent government.
Authorities in several regions of China have issued regulations to restrict inquiries into individuals' house registrations, a move that has aroused controversy after a slew of online exposes of corrupt government officials owning large amounts of property.
Housing transactions in South Korea fell the most in at least six years as faltering economy reduced personal income, boosting expectations for further price declines in the property market.
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