Dollar Back Realty

The real estate market is quickly turning hot. On Monday, for instance, a land parcel along Beijing’s Guangqu Road was auctioned off for more than 4 billion yuan ($585 million) after fierce bidding among major developers from the mainland and Hong Kong. The price set a record for a single land parcel in Beijing. More dramatically, just 15 months ago, this land parcel was withdrawn from a public …

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