Property News · May 5, 2017

Shanghai vows to crack down on home sales irregularities


The rising irregularities in the home sales process in Shanghai have caught policymakers’ attention as the city government vows to step in the lottery system used by the developers.
According to a document released by the Shanghai housing authority on Thursday, for a new project that attracts more clients than the number of units available for sale, a lottery draw will be conducted under the supervision of the city’s notary office. The move was aimed to further regulate home sales…

Source : South China Morning Post
Read more…Shanghai vows to crack down on home sales irregularities

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