China Weighs Housing Market Overhaul to Curb Pre-Sales

China is mulling a dramatic overhaul in the way homes are sold nationwide, requiring developers to offer only completed properties instead of using the pre-sales model that has exacerbated the housing crisis, according to people familiar with the matter.

The initiative, which hasn’t been finalized, is part of a “new model” of real estate development being formulated by the central government, the people said, asking not to be identified discussing a private matter.