Chengdu municipal housing and urban-rural development bureau and two other
municipal departments issued implementation opinions to carry out the national
Notice on Improving the Commodity Housing Sales System, introducing a deposit
regime for sales of completed units. Developers intending to sell completed
units must notify city or county housing authorities in writing before obtaining
a construction permit; after receiving the construction permit they may sign a
purchase deposit contract and collect deposits up to 5% of the unit’s total
price. If the developer breaches and cannot deliver on time, the buyer may, per
contract terms, seek termination of the deposit contract.
