Oct 19, 2016 06:34 PM

Shanghai Hits Developers Over Unauthorized Home-Price Hikes

(Beijing) — The Shanghai government has punished eight property developers for increasing home prices without notifying authorities — the city's latest move to cool the overheated property market.

The property developers were suspended from signing contracts with home buyers after regulators found that the companies had increased prices "without authorization," the Shanghai government said on its official WeChat account on Tuesday.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code