Shenzhen, China’s least affordable city to own a home, on Tuesday sold all but one of 22 plots even after the government capped the prices of new flats to help more people get on the property ladder.The 21 sites fetched 45.3 billion yuan (US$7 billion), just 7.34 per cent above the minimum selling price of all 22 sites, with most of the lots swooped up by state-owned enterprises. Only one residential site in Baoan district, which had a minimum price of 1.77 billion yuan, was withdrawn from sale…
Source : South China Morning Post
Read more…Shenzhen sells 21 of the 22 plots in city’s second land sale this year, fetching the government US billion
