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Apartments sale at sky-high price suspended in Beijing

06-03-2011 21:30 BJT

 

Photo taken on May 26, 2011 shows the exterior of the apartment buildings "Diaoyutai Courtyard Number 7" in Beijing, capital of China.
The penthouse apartment building starts attracting public eyeballs because of its extraordinarily high selling price, which is reported to be 300,000 yuan (about 46,300 US dollars) per square meter. The real estate industry watchdog here, Beijing Municipal Commission of Housing and Urban-rural Development announced on June 3 that the sale of 23 overpriced apartments here has been suspended under suspicion of raking in exorbitant profits. The watchdog is making investigation on the real estate project.
Chinese government has been striving to rein in the rapid growth of its housing price to address the overheated investment in the industry. Housing purchase quota and strict housing loans have been adopted in many Chinese cities. (Xinhua/Luo Xiaoguang)

Photo taken on May 26, 2011 shows staff member of the apartment buildings "Diaoyutai Courtyard Number 7" refusing interview in Beijing, capital of China.
The penthouse apartment building starts attracting public eyeballs because of its extraordinarily high selling price, which is reported to be 300,000 yuan (about 46,300 US dollars) per square meter. The real estate industry watchdog here, Beijing Municipal Commission of Housing and Urban-rural Development announced on June 3 that the sale of 23 overpriced apartments here has been suspended under suspicion of raking in exorbitant profits. The watchdog is making investigation on the real estate project.
Chinese government has been striving to rein in the rapid growth of its housing price to address the overheated investment in the industry. Housing purchase quota and strict housing loans have been adopted in many Chinese cities. (Xinhua/Luo Xiaoguang)


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