Beijing home prices are expected to maintain a steady course during the remainder of the year, supported by the city mayor's unexpected pledge not to use administrative measures to intervene in the market.

Speaking during the Beijing Municipal People's Congress at the end of last month, Mayor Guo Jinlong said the government would not introduce administrative measures to push down home prices, leaving the market to determine price levels instead.

The pledge was the first of its kind by a mainland city mayor and reflected the dilemma facing local and city governments when it came to the issue of curbing demand for property, agents said.

South China Morning Post