Report: Several Chinese provinces lower 2019 shanty town development targets

Industry News 10:21:40AM Feb 11, 2019 Source:SMM

Several Chinese provinces and cities lowered targets for shanty town redevelopment in 2019, indicating that a key driver of the housing markets in China’s third- and fourth-tier cities may be weakening, reported China Securities Journal online  on February 2.

Beijing eyed replacing old dwellings with 11,500 new apartments in 2019, down from 23,600 units in 2018. Sichuan targeted 150,000 units, down from 255,000 units in 2018, and Henan targeted 150,000 units, much fewer than 500,000 units last year.

Report: Several Chinese provinces lower 2019 shanty town development targets

Industry News 10:21:40AM Feb 11, 2019 Source:SMM

Several Chinese provinces and cities lowered targets for shanty town redevelopment in 2019, indicating that a key driver of the housing markets in China’s third- and fourth-tier cities may be weakening, reported China Securities Journal online  on February 2.

Beijing eyed replacing old dwellings with 11,500 new apartments in 2019, down from 23,600 units in 2018. Sichuan targeted 150,000 units, down from 255,000 units in 2018, and Henan targeted 150,000 units, much fewer than 500,000 units last year.