Chinese Regulators Focus on Rental Chaos

There's one consistent theme in Chinese real estate be it home buying or renting: chaos. Many analysts were looking for a turn in the second half of 2018 because of the stringent crackdown the began in June, but now many see the "chaos" lasting until year end.

iFeng: 多地严打租售乱象 房地产行业迎“整治潮”
On the 18th, Shanghai issued the "Notice on Launching the Special Renovation of the Real Estate Market Order in 2018" (referred to as the "Notice"), requesting that by the end of 2018, the Housing Construction Committee, the Housing Management Bureau, the Public Security Bureau, the Judicial Bureau, the Taxation Bureau, the Banking Regulatory Bureau, etc. The departments jointly carried out special rectification work in the real estate market, focusing on cracking down on illegal and illegal activities such as false information, speculative real estate, virtual transactions, illegal charges, and illegal housing withdrawals.

Up to now, Shanghai, Beijing, Guangzhou, Shenzhen, Hainan, Tianjin, Nanjing, Suzhou, Hefei, Xiamen and other places have jointly carried out special actions to combat illegal and illegal behaviors in the real estate sector and to control the chaos in the real estate market.

Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that since August, more than 50 cities across the country have issued special rectifications to the order of the real estate market, strictly cracking down on the chasing of rents and sales.

The eight departments of Hainan Province recently issued a special action plan, focusing on four acts such as speculative real estate speculation and real estate “black intermediary”. Changshu's nine departments issued a document. As of the end of December, the city carried out anti-law violations against real estate interests in order to strengthen the supervision of the real estate market and further regulate the order of the real estate market.

In response to the various irregularities in the leasing market, Beijing, Nanjing, Xi'an and other places have successively issued new policies for centralized rectification. The Beijing Municipal Commission of Housing and Construction and the Municipal Banking Supervision Bureau and other departments have concentrated on talking about the owners of major housing leasing companies such as free-flowing, Xiangyu, eggshell apartments, etc., and clearly require that housing leasing enterprises should not use bank loans and other financing channels to obtain funds for vicious competition to seize the housing. . In Nanjing, it is required that leasing companies should not viciously compete for market share, promote renting prices, or monopolize rental housing.

Some insiders said that because there are still many speculations and violations in the real estate market, the chaos for the rental and sales market will last at least until the end of this year.

1 comment:

  1. Good blog about China... keep-up the good work.... May I share a blog about Huangdao Illumnation of Buildings in https://stenote.blogspot.com/2018/07/huangdao-illumination-of-buildings.html
    Watch also the video in youtube https://youtu.be/GcfqJ6JUrNY