Beijing Tries to Mandate Home Prices, Limits Ability to Sell

Beijing is trying a new strategy for capping home prices: mandating them. Four plots of land up for sale in Beijing have been amended to include limits on home prices:
October 28 afternoon, the City Planning and Land Committee to the end of September listed four blocks release second supplementary announcement, commodity housing sales price Haidian District Yongfeng three plots no more than 53,400 yuan / square meter, the highest price no more than 56,100 yuan / square meter, the average selling price Daxing Huangcun Lot no more than 55,800 yuan / square meter, the highest price is not more than 58,500 yuan / square meter.
Given all the other regulations put in place over the past month, this additional one will probably work. By itself it will only create more affordable housing, since developers will have no incentive to increase building costs. Assuming they can't find a workaround.

Another more important regulation: buyers of homes on these plots will not be able to sell for 5 years. The aim is to force investors away from speculation and towards renting.

iFeng: 北京四宗地限制未来房价 房价将不超6万元

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