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China:  MAJOR CITIES REMOVE SALE PRICE RESTRICTIONS ON NEW HOMES

CHINA PRESS
  • The Plenum delivered more autonomy to the regions, specifically targeting the housing crisis.
  • Major cities have since moved to allow developers to independently set their own sale prices based on supply and demand.
  • With a vast number of unsold properties choking the sector, this could be a step forward in clearing the backlog and allowing the sector to function again.
  • More policy initiatives at regional levels are likely this year prior to any large responses from the Central Government.

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