The projects have generally been developed on land plots acquired from local government as “commercial or office land”, and have become a popular residential product in the bigger cities, as residential land supply has become so tight. Photo: EPA

Beijing and Shanghai clamp down on selling apartments built on commercial land, or converted from industrial use

Latest figures show US$18.97 billion worth of commercial converted apartments were sold in Beijing last year, a third of the city’s total transactions

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The projects have generally been developed on land plots acquired from local government as “commercial or office land”, and have become a popular residential product in the bigger cities, as residential land supply has become so tight. Photo: EPA
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