On August 28th, Nanchang City, China issued the “Notice on Further Strengthening the Sales Management of Newly Built and Renovated Residential Buildings in Urban Areas” and proposed the implementation of the “limited” system for decoration prices.

During the period of readjustment for the real estate market, whether it is the sold new built whole-house decoration house, or the new built whole-house decoration gerneral house and non-ordinary houses sold in the future, the decoration price will be lower than the price regulated by the government.

For real estate companies that do not respect the regulations, Nanchang will not issue pre-sale permits and suspend its online signing.

This means that all new commercial housing in Nanchang City, whether it is residential or retail, as long as it is sold in the form of “whole-house decoration or refined decoration house”, real estate developers are not allowed to customize the decoration price at will, and it is not allowed to be included in the total price of the house; it must be based on the maximum price of the full decoration set by the government, which can only be less and cannot be exceeded.

This show Chinese government's further readjustment of the real estate market.

（Source: JJgle.com）