Property Dev´t Compensation Fee Raised Greatly in Guangzhou

Source: CCTV.com

Over in the real estate sector, the local government in the southern city of Guangzhou is doing more to protect its citizens. The city has significantly raised the property development compensation fee for affected residents.

Guangzhou raises property development compensation fee.
(Photo: fogang.gov.cn)

The minimum level has been raised across the city, while the compensation fee for some old properties in the city center has increased to up to 12,000 yuan per square meter, several times higher than the previous standard.

In addition, to protect the interest of the poor families, residents in Guangzhou will receive a minimum compensation for 40 square meters' property if the floor space of their home is less than that figure.

Finally, for middle income families, the local government has set ceiling price at 6,500 yuan per square meter for all apartments which are less than 90 square meters in size.

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Editor: Shanna Chu