Ban placed on property sales

Xiongan New Area has halted all real estate sales, and police will take measures against anyone ignoring the ban, local officials said on April 2.

Xie Keqing, deputy county magistrate, told real estate developers and agencies in an emergency meeting that the government is shutting down all real estate sales offices in the county, National Business Daily reported.

The government has posted people at real estate sites and set up patrols, halting all possible transactions, the report said.

Public security authorities warned that police would act against those violating the ban.

Developing and selling real estate requires land certificates and sales licenses, and the process should adhere to the law, officials from the county's housing and development bureau said.

The ban came after the announcement on April 1 of the building of Xiongan New Area. The news sent many speculators from other cities rushing overnight to buy property, despite the sales ban in all three counties, the report said.

(China Daily European Weekly 04/07/2017 page15)