(Yicai) Sept. 20 -- Shares of several Chinese developers surged by their daily trading limit after Beijing Daily reported today that the city may cancel the local real estate market's classifying standards for common and non-common properties.

Electronic Zone High-tech Group [SHA: 600658] and Dalong Weiye Real Estate Development [SHA: 600159] closed 10 percent higher at CNY4.38 and CNY2.45 (62 US cents and 35 US cents), respectively, in Shanghai today. The Shenzhen-listed stock of Yukaifa [SHE: 000514] jumped 10 percent to CNY3.71, while Macrolink Culturaltainment Development [SHE: 000620] ended up 6.6 percent at CNY1.45.

To be identified as a common home in Beijing, a property must meet the residential area's floor area rate, building area, and transaction price requirements. Buying a non-common house requires paying more taxes and fees, increasing the price of pre-owned homes.

Around 70 percent of properties in Beijing are common, said Guan Rongxue, a senior analyst at Linping's research institution. After ending the common and non-common grouping, the two will be subject to the same taxes, helping to reduce prices and promote the release of demand to improve living conditions, Guan added.

Beijing has implemented various real estate market policies this year, leading to an increase in local activity. More than 42,000 second-hand homes changed hands between June and August, with the figure topping 15,000 in July, according to data from China Index Academy.

However, sales of new and pre-owned homes in Beijing fell this month due to waning policy support and the impact of the three-day Mid-Autumn Festival. The number of second-hand houses sold per day fell 9.4 percent between Sept. 1 and 19 from a year earlier, with the figure down 17.8 percent from a month earlier.

"Beijing will continue optimizing policies and gradually introduce more significant favorable measures to boost confidence in the local real estate market," Guan noted. Other Chinese provincial-level regions will likely release relevant measures, Guan said.

Enabling people with demand and purchasing power to enter and buy large homes is an important direction for policy efforts, according to Chen Wenjing, policy research director at the CIA. This may include lifting purchase restrictions for houses over 144 square meters, Chen added.

Editors: Shi Yi, Martin Kadiev