Home buyers face squeeze as Shanghai curbs office-to-flats market
The Shanghai measures have dented buyer sentiment for similar developments in other Chinese cities
Add BT as a preferred source
Beijing
A CRACKDOWN In Shanghai on commercial office projects converted into residential apartments will squeeze speculators, but could also hurt bona fide homebuyers already struggling with high prices and buying restrictions.
Some property developers in the city bought land zoned for commercial use as a cheaper alternative to plots meant for homes. Apartment blocks put up on these sites were consequently cheaper, and weren't regulated under home-purchase rules brought in to curb speculation and soaring prices.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
The Asian playbook for global brands no longer works
