Cities Ramp Up Real Estate Regulations Following July Price Rise

Althoguh they weren't at the heart of the problem last month, Shenzhen and Suzhou announced a renewed attack on speculators and vowed to clean up the housing market. Ten and nine government departments, respectively, issued a joint statement in those cities. Last week, the central government said it will hold cities accountable if they fail to control real estate prices.

Caijing: 深圳十部门联合出击整顿楼市 严禁投机炒房等行为
On the afternoon of August 14, Leju got a joint report issued by the Shenzhen Ministry of Land and Resources, the Municipal Supervisory Committee, the Housing Bureau, the Public Security Bureau, and the Taxation Bureau, jointly launched the fight against the violation of the interests of the masses and the violation of laws and regulations to control the real estate market chaos. The Special Action Work Plan has severely cracked down on the chaos in the property market.
Suzhou issued a similar statement and outlined all the illegal activity it will target.

Caijing: 苏州九部门联合发文:开展规范房地产市场秩序专项行动
In addition, according to the summary of Suzhou Housing Construction, there are 31 illegal activities in this special action focused on rectification.

Among them, there are 8 speculative real estate speculations, including bundled sales in the form of marketing channels, starting prices, monopolizing housing, and manipulating housing prices; after entering the sales chain, reluctant to sell or disguised hoarding housing; through newspapers, radio, television, websites, New media and other means to fabricate and disseminate real estate virtual information.

There are 10 illegal and illegal acts of brokerage institutions, including “Yin and Yang Contracts”, and the provision of false materials to defraud the purchase of housing.

There are 7 violations of laws and regulations of real estate development enterprises, including the purchase, approval, reservation, numbering, sale of cards, bank deposit funds, etc., before the acquisition of the pre-sale permit for commercial housing, or the deposit of the deposit, disbursement, In good faith and other acts.

There are 6 advertisements for publishing false real estate advertisements, including the publication of false and homophonic advertising terms, such as: × city pursuit, "up" sound, confusion, consumption and other behaviors.

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