Property News · April 4, 2017

Developers brace themselves as Beijing gets tough on flats sold on commercial land


Property developers are facing a potentially huge dent in their sales in Beijing after the municipal government declared war on residential apartments being sold on land intended for commercial use.
As part of a broader campaign to curb the capital’s frenetic home buying and skyrocketing prices, the Beijing authorities on March 26 banned all sales of new apartments built on plots that were originally acquired as commercial or office land.
The converted commercial projects had become…

Source : South China Morning Post
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