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Hangzhou Starts Acquisition Of Unsold Housings

CHINA PRESS
MNI (Singapore)

Local governments have started to purchase developers’ unsold housing stocks with Lin’an district in Hangzhou city of Eastern China planning to acquire no more than 10,000 square meters of commercial housing for a public rental programme, Quanshang China reported. The government said on Wednesday that the acquisition is aimed at existing houses or those eligible for delivery within one year. The basic acquisition unit should be an entire building with the area of a single unit not exceeding 70 square meters. The maximum acquiring price shall not exceed the assessed price of surrounding houses.

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