SCMP: Chinese government plays hardball with dishonest property agents and developers
In Shenzhen, the quality supervision commission, which usually looks after food safety, on Thursday sent 12 teams to “raid” 20 property sales offices across the city to “shock” developers and sales staff, it said. Government officials stormed into the offices and ordered employees to produce all legal documents to check against marketing claims.
One development, Qianhai Dongan, where units sell for 75,000 yuan (HK$86,500) per square metre, was found to have been dishonest about sales performance. It sold 20 per cent of the available units flats on the first day but publically claimed 90 per cent had sold out in two hours. It had “misled consumers” by putting a kindergarten sign on its model table – but the school does not appear in municipal planning records, the commission said in a statement.