Commercial housing oversupply to continue

The oversupply of commercial housing will not change in the short run in Guangzhou, the city's land resources and housing administrative bureau said.

Commercial housing developments with sale permits in the Guangdong provincial capital totaled 7.167 million square meters, and those under construction reached 49.176 million square meters at the end of last year, the Information Times quoted the bureau as saying.

Commercial housing prices have been rising rapidly in the city since the second half of last year.