Property News · October 17, 2018

China steps closer to banning home presales, sending a chill among domestic developers


Chinese property developers have been invited to give their input on a controversial proposal that would prohibit sales of flats before they are finished, potentially expanding discussion currently underway in Guangdong province. A broad prohibition of the sales practise could weigh negatively on shares of large property developers and remove a key source of funding to smaller developers, according to experts.
Zhang Peng, president of Modern Land, a Beijing-based developer, told the Post that…

Source : South China Morning Post
Read more…China steps closer to banning home presales, sending a chill among domestic developers

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