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China's cities offer evictees sweeteners to boost housing market

Government subsidies promote sales as new condo inventories increase

The protracted chill in the Chinese housing market has reduced the appeal of condos as an asset. (Photo by Iori Kawate)

BEIJING -- More regional cities in China have begun offering subsidies to residents being evicted for redevelopment in an effort to both help them purchase new homes and clear mounting inventories of new condominiums.

China is redeveloping neighborhoods nationwide to improve housing and promote real estate investment, including under the government's five-year plan through 2025. Local governments usually provide new homes to those displaced as a result of these projects, or provide them with housing vouchers based on the value of their old homes.

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