You are here

Govt buys unsold homes to help China builders

Units bought at a discount are used for public housing in six provinces, but this may not eliminate glut

BT_20150707_GOVTBUY7_1760302.jpg
Unsold residential floor space in China totalled 657 sq km - the most unsold space in at least two years.

Beijing

DISMAYED by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing.

Like a white knight riding to the rescue of distressed developers, a

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom