Government price controls on real estate projects have fuelled a treasure hunt among prospective buyers in the coastal city of Qingdao, where one residential project due for upcoming release has attracted six times more buyer registrants than flats available.
At the entrance of the sale centre of Pinghailinfeng, a residential project by Shandong Steel Properties, a large Chinese-language billboard warned homebuyers to beware of fraudsters posing as agents on behalf of the developer.
“Do…
Source : South China Morning Post
Read more…In Qingdao, chances of winning the housing ‘lottery’ are as good as one in six, thanks to price controls















