Date
17 December 2017

Sanya halts construction of small commodity flats, paper says

Sanya in Hainan province has reportedly halted the construction of commercial flats with size under 80 square meters, shifting its focus on building lower-density houses, the National Business Daily reported Sunday. This means homebuyers will no longer be able to purchase a flat in Sanya for 1 million yuan (US$160,974) or less. Officials from the Sanya Urban Planning Department have confirmed the news, but have added that the policy has yet to be finalized. The housing needs of the general public is already well supported by subsidized housing units, and as such, there is no strong need for large-size commodity flats, the officials said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

 

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