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















