Deathbed Struggle: Communist China’s Real Estate Buyback Programs

Guizhou Province directly issued a notice by the government, ostensibly to encourage agencies, enterprises, and public institutions employees to conduct group purchase of commercial housing, but in fact, the group purchase of commercial housing linked to each local government’s responsibility; Suzhou City was more buyback of housing, and is implementing the buyback of 10,000 sets of new houses, and pulled the volume of commercial housing transactions in September jumped 126.88% from the previous year. The Stat-owned Asserts Supervision And Administration Commission Of Jinan People’s Government issued an announcement that it would purchase 3,000 sets of commercial housing in the city, but the announcement has been deleted; While Handan City will purchase the stock of commercial housing for shantytowns and urban village renovation needs, and relocate the demolished households and other people.

 These measures taken by Communist China’s local governments can pull the volume of commercial housing transactions to a certain extent and help real estate companies remove some of their inventory, at the same time holding up the real estate price to avoid a collapse that would cause the disaster such as business failure, bank bankruptcies and home buyers losing their loans. In addition, the local governments’ buyback of commercial housing, mainly for external rental and resettlement of demolished households, not only helps the developer to recoup some of the funds but also solves the resettlement problems of the demolished households. Meanwhile, it can be rented out to the public to harvest another wave of leeks.

Picture of Aussie Brief News
Aussie Brief News

Go to First Page and Get the Latest News.

Translator: MOS Gospel Team
Design&editor: HBamboo(昆仑竹)

Leave a Reply

Your email address will not be published. Required fields are marked *