Property News · November 5, 2019

Shenzhen’s buyers snap up new homes two weekends in a row, defying a government plan to flood China’s Silicon Valley with cheap public abodes


Shenzhen’s homebuyers are rushing to snap up newly completed residential property, ignoring a plan by the local authority to flood the market with 1 million cheap public housing flats.Sales of new homes increased for two consecutive weekends, after the city’s government announced an ambitious plan to add a million public homes to the housing supply, capping their prices at 50,000 yuan (US$7,148) per square metre (HK$5,200 per square foot) on October 23.The strong demand for housing underscores…

Source : South China Morning Post
Read more…Shenzhen’s buyers snap up new homes two weekends in a row, defying a government plan to flood China’s Silicon Valley with cheap public abodes

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