Shenzhen joins Chinese local governments taking unsold homes off developers’ hands

Quick Summary:

The city becomes the first tier-1 metropolis to heed Beijing’s call to help bail out property developers while adding to affordable housing stock.

Residential buildings under construction at China Vanke’s Elegant Lifestyle project in Shenzhen on April 17, 2024.

Homes, flats and staff accommodations of up to 65 square metres in size will be considered under the scheme, but whole buildings will have priority.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong KongChina

Topics: Cities Unsold Affordable Shenzhen Property China Homes According Housing Local Chinese

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-08 @ 15:30:09 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21979604

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