Beijing Bans House Flipping, Punishes 55 Agencies

Beijing banned the buying and selling of the same house within one year and has punished 55 real estate agencies, all in the past two weeks.

3.17

Beijing second home down payment raised to 60%, recognize the room and credit

3.18

"School District housing" can not be used as a qualification for admission

3.21

Beijing 16 banks reduce mortgage interest rates discount to 5%

3.22

11 real estate agents were ordered to shut down

3.22

Non-Beijing residents purchase qualification requires continuous tax payments for 60 months

3.23

Irregular housing cannot be registered, not settled, not near school

3.24

Within one year of divorce, second-home mortgage rules apply

3.25

Primary and secondary schools and real estate business cooperation is limited

3.26

Restrictions on individual purchasers

3.29

It is forbidden to sell the same set of houses within one year

Beijing ordered many real estate agencies to shut down as they comply with regulations:

Previously, due to illegal publicity "commercial housing", speculation "astronomical school district room" and other reasons, Beijing has 54 real estate intermediary was ordered to shut down or suspend business for rectification.

The breakdown on the closing of real estate agencies:

3.20

Beijing Municipal Housing Construction Committee of the law enforcement agencies on the real estate brokerage stores conducted a random law enforcement inspection, check the focus is to release false listings and price information, to participate in real estate, driving up prices and other illegal activities.

3.22

Due to remote operation, unlicensed business and other illegal acts, 11 real estate intermediary stores were canceled for the record, ordered to shut down.

3.23

Beijing Municipal Construction Committee to discuss the top ten intermediary agencies, explicitly prohibit intermediaries to participate in real estate.

3.24

Because of the alleged "astronomical school district room" involved in the tax payment, illegal agents, driving up prices and other illegal acts, chain home, I love my home, the Central Plains intermediary company in the West Side Fenghui Garden and other four district near the 10 intermediary stores, was ordered Closed for a month.

3.24

Due to off-site operation, unlicensed business and other illegal acts, Beijing Yiran Heaven and Earth Real Estate Brokerage Co., Ltd. and other five real estate intermediaries were ordered to shut down.

3.25

Wheat company Hongxi Taiwan branch and other 12 real estate intermediary stores were ordered to shut down due to illegal business.

3.28

Due to suspected illegal agents to do class housing sales, false propaganda business class housing use, chain home Changping 36th branch 15 real estate intermediary stores were ordered to suspend business for rectification.

3.28

Due to illegal publicity "commercial housing", Yue popular real estate intermediary was ordered to suspend business, according to the law to write off the company's real estate brokerage institutions for the record.

Law enforcement departments strike out, for the real estate intermediary remediation effect of the initial show. As of March 28, 54 real estate agents were ordered to shut down or suspend business for rectification. According to the district housing management departments to check statistics, 91 real estate intermediary companies have shut down their own.

March 29, housing and urban and rural construction informed the Beijing SouFun Network Technology Co., Ltd. Wuhan Branch and other 30 illegal real estate intermediaries and development enterprises.

Caijing: 北京楼市调控12天放10个大招 55家房产中介遭严惩

SCMP: Beijing yanks license of Fang Holdings’ unit for defying rules on converted flat listings

NYSE-listed Fang Holdings became the latest target of Beijing’s property crackdown, after a local unit had its real estate brokerage license revoked, in what amounts to the harshest penalty so far given to a real estate company for violating rules against marketing flats converted from commercial or office space.

The license cancellation is part of a clampdown on sales of “commercial-converted apartments”, flats that are built on land zoned for commercial or office use. The practise was until recently very common in major Chinese cities where residential land supply is disproportionately low.

...In addition to the action against Fang Holdings, 15 branches of property offices belonging to Homelink, 5i5j and Centaline Property have been closed for violating the listing ban. However, the shutdown order was limited to individual branches found to be in violation of the directive, as authorities stopped short of taking action against the parent companies.