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Home buyers face squeeze as Shanghai curbs office-to-flats market

Reuters  |  HONG KONG/BEIJING 

By Clare Jim and Elias GlennHONG KONG/BEIJING (Reuters) - A crackdown in Shanghai on commercial office projects converted into residential apartments will squeeze speculators, but could also hurt bona fide homebuyers already struggling with high prices and buying restrictions.Some property developers in the city bought land zoned for commercial use as a cheaper alternative to plots meant for homes. Apartment blocks put up on these sites were consequently cheaper, and weren't regulated under home-purchase rules brought in to curb speculation and soaring prices.The properties proved popular ...

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First Published: Thu, June 15 2017. 10:12 IST
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