Property News · July 10, 2019

Chinese cities experiment with new approach to land sales while Hong Kong sticks with highest-bidder model


Local authorities in many mainland cities are exploring new ways of awarding land to developers as they seek to curb property prices, throwing the spotlight on Hong Kong’s long-established practice of simply picking the highest ­bidder.Among the new land sale models, some apply administrative limits on how much developers can charge for completed units as a way to help maintain ­affordability, while others include requirements for public housing or picking bidders offering close to an average…

Source : South China Morning Post
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