INVESTORS who make profits by buying commercial houses as futures and then selling them to other buyers will have to rethink their business methods after Shanghai legislators passed a rule on Wednesday, which will take effect from April 20, to limit such investments.
Shanghai will learn from Hong Kong’s experience in controlling the real estate market and the government will limit the trading of commercial housing before owners get house ownership permits, said Cai Yutian, director of Shanghai Administration of Housing, Land and Resources.