China: wuhu scraps week-old housing policy

A third-tier city in Eastern Anhui province has called an abrupt halt to a housing policy that was announced only last week.

The move indicates the central government's determination to keep house-price inflation in check, analysts said.

On Thursday, Wuhu government in Anhui province published a notice on "further improving the living conditions of local residents". In an obvious break from the State's tightening policies, the notice said home purchasers would receive subsidies for the whole year if their newly bought homes were less than 90 square meters in area.

New homes with a gross floor area of between 70 sq m and 90 sq m would garner a subsidy of 50 yuan ($8) per sq m, while new homes less than or equal to 70 sq m would see a subsidy of 150 yuan per sq m.  

Source: ChinaDaily.com