花辨直播官方版_花辨直播平台官方app下载_花辨直播免费版app下载

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Industries

Beijing punishes developers, agents violating property sale ban

Xinhua | Updated: 2017-03-28 08:55

BEIJING - Six business apartment projects and 15 real estate agent offices in Beijing were punished Monday for violating a government ban aimed at cooling the red-hot housing market.

The six projects, including some belonging to China's top developers Vanke and Evergrande, were banned from sale, while the 15 real estate agent offices were ordered to close shop for overhauls, according to the Beijing Municipal Commission of Housing and Urban-Rural Development.

Authorities in Beijing stepped up restrictions on house purchases on Sunday, banning the sale of business apartments to individuals for residence.

The rule says developers shall only sell business apartments to qualified enterprises, public institutions and social organizations. For new business apartment projects yet to be built, the smallest unit for sale should not be less than 500 square meters.

Inspection teams were promptly dispatched on Monday to enforce the ban.

Officials with the city commission warned that real estate agents that mislead individual home buyers by falsely advertising business apartments for residence will be severely punished and can lose their licenses due to the violation.

The punishment addressed a long-held criticism that the housing commission's warnings generally have no teeth.

China has witnessed a property boom for more than a decade, with home prices in many big cities soaring sky high, triggering a fear of an enormous asset bubble that could eventually destabilize the economy.

The country's policymakers announced in December that "houses are for living in, not for speculating with," following a string of cooling measures from buying restrictions to increased down payments.

Beijing scaled up curbing measures in March after second-home prices continued their growth rally in the first few months of this year.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US