Wendy Zhang/ Shanghai Daily news
Starting from January next year, all the city's second-hand property
transactions will be recorded online, as part of the government's move to
enhance supervision of the real-estate market.
Property agencies are also
required to register via the Internet before releasing property information. The
transactions, which are not recorded online, will not be accepted by the
Shanghai Real-Estate Trading Center.
Residents will feel much safer in
purchasing pre-owned homes, as they can investigate the qualifications of
property agencies and other necessary information on the property transaction
Website (www.fangdi.com.cn) before signing the deals, said an industry analyst.
All the property agencies will have transaction terminals in their outlets
where housing buyers, sellers and agencies can sign deals and record them with
the Shanghai Real-Estate Trading Center.
From December 18, property
transaction registration offices in Jiading, Songjiang, Jinshan, Nanhui,
Fengxian, Qingpu districts and Chongming County will suspend the registration of
second-hand property transactions that are not recorded online. The move will be
expanded citywide from January 1, 2007.