Plans are in place to make homes below 90-square meters have to make up at least 7 out of every 10 units in any new projects located in central Shanghai.

 

Development projects in the suburbs are going to be required to have at least 3 in 5 apartments below 90-square meters.

 

The new regulations also require any subsidized housing projects all be built under 90-square meters.

 

This follows a new local government ban on financing any more land purchases for property development.

 

Local governments currently holding large chunks¹ of land are also being told to sell off some of their property assets to try to reduce their debt burdens.

 

For more on all this, CRI's Spencer Musick spoke² earlier with John Ross, senior fellow with the Chongyang Institute for Financial Studies at Renmin University.

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