China has pushed all the buttons to tame the red-hot property market where price surges are bringing worries of a bubble burst to a boiling point.

On April 26, the Ministry of Housing and Urban-Rural Development announced a series of regulations over affordable houses for low-income residents.

The ministry said those who sell or rent out affordable houses or leave them vacant will be forced to relinquish ownership of the properties and will be ineligible for purchasing another affordable house for five years. Those who fake their qualifications must also return the houses.

Chen Yunfeng, Secretary General of the National Real Estate Manager Alliance, said this move would help protect interests of low-income groups and be a stabilizer in the feverish market.

Along with tighter mortgage rules and a clampdown on financing for developers, the new regulation adds to the impression the government is determined to restore the property market's health