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Authorities Should Allow Developers To Cut Prices, Speed Up Sales

CHINA PRESS
MNI (Singapore)

Chinese authorities should relax price rules for property developers to accelerate home sales and revitalise cash flow, according to the Securities Times in a commentary. In 2022, nearly 20 cities introduced price limits to prevent developers from maliciously lowering home prices to disrupt the market. However, the housing market now faces oversupply with the declines in real-estate investment, home sales and funds for developers further expanded. Recently, some cities in Sichuan and Fujian provinces encouraged developers to carry out group sales with the preferential prices given to specific groups not recorded as a price drop.

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