One Shenzhen property developer has set a new benchmark for eager homebuyers in this southern Chinese city, requiring deposits of 5 million yuan (US$778,990.40) to enter a lottery to be selected for the 167 units that will go on sale Wednesday.
The refundable fee is required to register for the lottery that will convey the right to purchase a price-controlled unit at the luxury residential project Shuangxi Garden Phase Three, a development by Shenzhen China Merchants Real Estate.
By the close…
Source : South China Morning Post
Read more…Shenzhen homebuyers splash out US0,000 deposit for chance to buy price controlled flats















