Property News · June 22, 2021

Shanghai’s hottest commodity is pre-owned flats as price curbs on new projects lead to scramble in secondary market


A scarce supply of new homes in Shanghai and regulatory curbs have sparked a scramble among thousands of cash-rich buyers for high-end pre-owned flats in China’s financial hub, driving up the prices in secondary market to record highs.Some of the homebuyers, falling victim to new administrative measures to disqualify buyers and cool a red-hot property market, had to pay an extra million of yuan to grab a pre-owned apartment in the city’s downtown areas.“Due to a limited supply of new homes in…

Source : South China Morning Post
Read more…Shanghai’s hottest commodity is pre-owned flats as price curbs on new projects lead to scramble in secondary market

You may also like...