Shanghai Pushes ‘Old for New’ Housing Policy in Attempt to Save Property Market

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Shanghai Pushes ‘Old for New’ Housing Policy in Attempt to Save Property Market

News Analysis Shanghai, a metropolis in China that used to boast skyrocketing property prices, has launched a “old for new” housing policy, following more than 30 Chinese cities who have adopted similar measures in an attempt to save the nation’s failing property market. The policy, however, will not do much good given people’s declining purchasing power and China’s high real estate taxes, according to an economist. Based on reports in Chinese s…