Shenzhen housing crackdown creates flourishing black market

Below-value price cap leads to listings disguised as fruit and other loopholes

20210614N Shenzhen

Shenzhen, home to many of China's leading technology companies, imposed price caps on many housing complexes in February. © Reuters

YUSUKE HINATA, Nikkei staff writer

GUANGZHOU -- A 1 million yuan banana?

In early May, one real estate brokerage in a bustling Shenzhen neighborhood put on its window a list of what appeared to be fruit prices.

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