Property News · September 22, 2021

Chinese cities ask developers to stop discount gimmicks as local governments seek to prevent a collapse in home prices


At least eight cities in mainland China, from Zhuzhou in southern Hunan province to Huizhou in the Greater Bay Area, have come up with measures to prevent developers from offering excessively cheap homes to stabilise the market and prevent a collapse in prices.The housing authorities in Zhuzhou earlier this month summoned executives of four local developers and a few property agencies, asking them to stop selling homes at prices that were “obviously lower than the market level”, and urged them…

Source : South China Morning Post
Read more…Chinese cities ask developers to stop discount gimmicks as local governments seek to prevent a collapse in home prices

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