
Seven real estate agents in Shanghai have been detained for spreading rumors about new government property restrictions, which have been blamed for a jump in divorce rates and a buying frenzy in China's commercial hub, local police announced Thursday night.
The seven suspects, who allegedly spread rumors online over new property curbs for better sales and commission fees, have been blamed for affecting the stability of the local housing market, according to a police statement.
Rumors have spread on social media and websites since late August that under a new regulation in the city starting Sept. 1, those who have been divorced less than a year will face restrictions and higher minimum down payments and mortgage interest rates.
The rumors allegedly triggered a rush to marriage registrar's offices in Shanghai, even though the city government later denied it was planning any changes to the city's home purchasing rules.
Home sales in the city nearly doubled in the week of August 22-28 compared with the previous week, with home buyers snapping up 555,700 square meters of floor space in anticipation of stricter rules, data from the research unit of real estate chain Lianjia showed.
Housing prices also went up 5.6 percent from the previous week to nearly 43,700 yuan per square meter, it said.
Source : XINHUA
GMT 12:28 2018 Friday ,31 August
Algeria, reaffirm support to Sahrawi and Palestinian peoplesGMT 11:54 2018 Friday ,31 August
Second mine explodes in Mghilla 'Four soldiers wounded'GMT 11:30 2018 Friday ,31 August
UNSMIL condemns escalation of Violence in Great Tripoli areaGMT 11:15 2018 Friday ,31 August
Morocco, U.S Committed to Fighting Terrorism 'US Official'GMT 16:27 2018 Thursday ,30 August
PPS Considers Withdrawing from Ruling Coalition amid Tension with PJDGMT 15:34 2018 Thursday ,30 August
3 Bunkers, 4 homemade bombs discovered, destroyed in SkikdaGMT 15:10 2018 Thursday ,30 August
AU's Decision to Support UN-led Process, 'Big Win" for MoroccoGMT 12:47 2018 Thursday ,30 August
Cuba backed Polisario by providing military aid to Algeria
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor