In an effort to reduce new housing inventories, the Chinese city of Zhengzhou has instructed a state-owned company to purchase second-hand homes. This move comes as part of a broader strategy to address the oversupply of new housing units in the city.
By encouraging the purchase of existing homes, the city aims to stimulate the real estate market and alleviate the pressure on developers to build new properties. This approach is seen as a way to balance supply and demand in the housing sector.
