China Launches 30 City Crackdown on Housing Speculators and Illegal Developers

Chinese regulators are targeting buying groups along with illegal developers and those still violating advertising rules.

Xinhua: 七部门将在30城打击炒房团 楼市调控再释强烈信号
The real estate market will be regulated again and again, and real estate speculators and “black intermediaries” in 30 cities across the country will be hard hit. According to an analysis, these 30 cities are the “nose of the nose” of real estate regulation. These cities are stable and the national real estate market is also stable.

  On June 28th, the Ministry of Housing and Construction and other seven departments jointly issued a notice that from the beginning of July to the end of December 2018, special actions to control chaos in the real estate market will be carried out in 30 cities including Beijing and Shanghai.

  There are four key targets: speculative real estate gangs, real estate “black media”, illegal and illegal real estate development companies, and false real estate ads.
For example, speculative real-estate gangs manipulate house rents, sell plates and reluctant sellers, fabricate false information, fabricate room illusions, drive up house prices, and provide “down payment” loans; “black media” crack down on violence and drive out tenants, bundle fees, and yin and yang contracts. , Compulsory provision of agency services, infringement of customer funds, participation in speculation real estate and so on.

  The 30 cities on the list include: Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Nanjing, Suzhou, Wuxi, Hangzhou, Hefei, Fuzhou, Xiamen, Jinan, Zhengzhou, Wuhan, Chengdu, Changsha, Chongqing, Xian, Kunming and Foshan. Xuzhou, Taiyuan, Haikou, Ningbo, Yichang, Harbin, Changchun, Lanzhou, Guiyang.
Zhang Dawei pointed out that from the perspective of the real estate market trend, the national real estate market in May has been warming up in the early days, and some cities have become irrational. It is expected that the temperature will cool down after the rectification.

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