Property News · April 30, 2019

Homebuyers snub Beijing’s version of a ‘Help to Buy’ scheme, setting back Xi Jinping’s edict to make property affordable


The Beijing municipal government’s pilot programme to help residents get on the property ladder received the cold shoulder from homebuyers during its launch last week, in a setback that bodes ill for the scheme’s subsequent roll-out throughout the country.Home Joy, a complex of 1,244 apartments built by Beijing Rongjia Real Estate Development, one of 64 so-called Joint-Ownership Homes (JOH) programmes in the Chinese capital, sold only 60 units last week, while 3,900 registered buyers dropped…

Source : South China Morning Post
Read more…Homebuyers snub Beijing’s version of a ‘Help to Buy’ scheme, setting back Xi Jinping’s edict to make property affordable