Chinese property prices are expected to remain stable in the first quarter of 2017, said Chen Zhenggao, Minister of Housing and Urban-Rural Development.
Chen made the remarks at a press conference held by the State Council information office on Thursday.
Home prices have stopped rising in China's first and second tier cities and remained stable in third and fourth tier cities since January, said Chen.
China has the capacity and methods to stabilize the housing market, Chen added.
New residential house prices in Beijing remained flat month-on-month in January, while Shanghai prices fell 0.1 percent, according to the official data released by China’s National Bureau of Statistics on Wednesday.
