Property News · July 13, 2017

Beijing city unveils price controls in battle to cool housing bubble


Beijing’s municipal government for the first time clarified that it won’t allow new residential projects to go on sale if prices are higher than those sold in earlier launches, releasing a formal policy that gives weight to mayor’s pledge to arrest price gains in 2017.
In an annual white paper released on Wednesday, Beijing Municipal Commission for Housing and Urban-rural Development vowed to block issuance of presale permits to developers if they apply to sell at a price…

Source : South China Morning Post
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