Beijing developers may sell high-end homes again

Beijing’s municipal government has given approval to developers to sell luxury homes again after property prices eased in the past two months, the South China Morning Post reported. As part of cooling measures, the Beijing and Shanghai governments had clamped down on luxury residential projects in September. High-end residential properties, selling for more than US$4,500 per square meter, were targeted because they pulled average prices higher. According to a government website, however, phase two of Guangzhou R&F Properties’ (2777.HK) Project Beijing No. 10 and China Vanke’s (000002.SZ) Vanke Laushanyuan secured pre-sale approvals at the end of November. China Overseas Holdings’ (0688.HK) project in the city’s South 4th Ring Road area has also been given the green light.