Such an approach is adopted to secure the equilibrium of supply and demand and a reasonable structure in the real estate market, and to prevent drastic fluctuations in the sector.
In month-on-month terms, pre-owned home prices there rose by 0.2 percent, the first positive growth after four months of continuous declines.
Xiongan plans to build 13 housing projects with a total construction area of 4.56 million square meters, providing different types of accommodations, including commercial apartments and affordable rental housing, to people who work in the new area.
Experts said the aim is to accelerate the transition of China's housing market toward a new development pattern by establishing a housing system that encourages both home purchase and renting.
Experts predicted a noticeable recovery of the housing market in the second quarter, with home consumption playing an important role in driving up the economy.