Bad news for Shenzhen housing speculators as officials steer home prices below market levels

Shenzhen’s local government is seeking to stem a housing market bubble in the city by setting “reference prices” for lived-in homes at below market levels, a move that is expected to squeeze mortgage financing for homebuyers.The Housing and Construction Bureau on February 8 disclosed the indicative prices for 3,595 lived-in residential estates in the city dubbed as China’s Silicon Valley, following a series of administrative curbs last year to tame the market.The reference prices are about the…