The government has created a control mechanism for property acquisition in the mainland aiming to prevent the deception of local residents when buying property across the border, the Economic and Technological Development Bureau (DSEDT) and the Consumer Council (CC) announced in a joint statement.
The mechanism includes, for now, the cities of Zhuhai, Zhongshan, and Jiangmen. It aims to supervise compliance with the legal provisions regarding the publication of property listings located on the mainland, and includes a specific page for the verification of information pertaining to the sale of the mainland real estate to offer added protection to consumers by creating awareness of the risks associated with the purchase of properties, namely housing units, across the border.
In pursuing this goal, the CC established a connection to the online platforms of Zhuhai, Zhongshan, and Jiangmen for monitoring real estate transactions.
Interested parties should enter the specific page for “Information on the acquisition of properties located in the mainland,” on the CC’s website (www.consumer.gov.mo), and access the relevant platforms to verify the authenticity of the numbers of the “5 licenses” of buildings, as well as other information such as the promoter of the development, the area, and the zoning.
In the period between January 2020 and February 1, 2021, DSEDT opened 136 inspection procedures regarding real estate advertising. Among these cases, sanctioned proceedings have been launched in relation to 18 of them, relating to the illegal advertisement of buildings located across the border.
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