Commentary: The End of the Presale Era and China’s Housing Divide

China’s property sector, once an unstoppable engine of uniform growth, has entered an era of brutal Darwinism.

On Aug. 28, China’s housing, natural resources and financial regulators finalized a sweeping overhaul of the commercial housing sales system. By prioritizing direct sales over presales and demanding stricter corporate firewalls, Beijing has officially inaugurated a new development model.