Tools: Save | Print | E-mail | Most Read
Housing Sale Irregularities to Be Curbed
Adjust font size:

China's Ministry of Construction, the National Development and Reform Commission and the State Administration for Industry and Commerce have issued a joint circular calling for a crackdown on irregular practices in real estate sales.

The circular warns that developers who violate the rules could have their licenses revoked.

The circular orders local authorities to tighten their supervision of the market, including disclosing real-time sales information on all housing projects on the Internet as well as at the sales office of each project.

The circular tightens control over real estate advertisements and exhibitions, and bans developers with bad track records from taking part in exhibitions and promotion activities

Property brokers will also feel the pinch. The circular says brokers will be punished for irregularities such as charging customers for taking them to unavailable houses.

(Xinhua News Agency July 11, 2006)

Tools: Save | Print | E-mail | Most Read

Related Stories
Housing Market to Slow or Even Fall
New Rules to Restrict Overseas Home Buyers
Real Estate Still Overheated in Beijing
State Property Regulations Enforced in Shenzhen
PBOC to Curb Loan Growth
Steps Taken to Cool Real-estate Market

Product Directory
China Search
Country Search
Hot Buys
SiteMap | About Us | RSS | Newsletter | Feedback
Copyright © All Rights Reserved     E-mail: Tel: 86-10-88828000 京ICP证 040089号