Property Games Leave Homebuyers out in Cold
(Beijing) — Hunting for an apartment since his marriage in October, Wang Zeng has become increasingly frustrated by the policies of the Guangzhou government in its battle to curb soaring property prices. Its latest tactic — cutting the number of permits granted to developers to sell new homes before all the official certificates have been obtained.
“It’s getting more and more difficult to buy an apartment,” the 30-year-old airport staffer complained as he checked out a project in the city center in early May. “Permits for this project were handed out recently, but only for 50 units. But more than 300 people have registered to buy.”
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