Shenzhen raises supply of new homes as China’s tech hub moves to curb surging house prices

Shenzhen plans to drastically increase the supply of new housing this year, as it ramps up efforts to curb a rapid gain in home prices amid nascent signs of an asset bubble emerging in the post-pandemic period.The city is set to make a further 69,350 flats available by the end of 2020, a significant increase from the 50,434 on sale at the end of May, according to the Shenzhen Housing and Construction Bureau. It is the first time Shenzhen’s housing authority has released the data, a move seen as…

Read the original article at South China Morning Post