Property News · November 7, 2017

Beijing first failed land sale in two years shows developers’ woes


A land plot in Beijing failed to find a buyer for the first time in more than two years last Friday, as the government’s measures to cool the land market continue to take effect.
The failed sale of the 3.6 hectares (36,000 square metres) mix-use site that includes a residential parcel in the Pinggu district in the outskirts of Beijing marks a stark contrast to the successful sale of a similar but bigger site in the district that sold in August at the highest price level allowed by the…

Source : South China Morning Post
Read more…Beijing first failed land sale in two years shows developers’ woes

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