Shanghai to raise supply of small flats to cool market
Beijing
LOCAL authorities in Shanghai issued new rules to increase the supply of medium and small-sized apartments after the recent surge in home prices in the city, official media reported on Tuesday.
The financial centre would ensure the land supply for homes smaller than 100 sq m accounts for at least 70 per cent of total land supply in downtown areas while the ratio was lowered to 60 per cent for suburb areas, the Xinhua news agency quoted Shanghai Land Bureau as saying.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand