The price cap set by the Shanghai authorities earlier this year has pushed prices of new homes below those in the second-hand market nearby, prompting buyers to rush to the primary market in droves. Photo: Bloomberg

Shanghai authorities get more involved in supervising lottery system used by developers to allocate properties

The price of new homes is now lower than surrounding second-hand properties, making the chance to buy a new home the equivalent of winning the lottery

Topic |   China property

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The price cap set by the Shanghai authorities earlier this year has pushed prices of new homes below those in the second-hand market nearby, prompting buyers to rush to the primary market in droves. Photo: Bloomberg
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