Chongqing’s Housing and Urban-Rural Development Commission and partner agencies
issued implementation opinions addressing six areas including tighter
commodity-housing presale management, orderly rollout of completed-home sales,
greater financing and supporting measures, streamlined project approvals and
stronger market supervision. The document mandates a deposit regime for
completed-home sales: for projects selling completed units, developers must,
after obtaining a construction permit and finalizing a completed-home
subscription plan, sign a purchase deposit contract with buyers via the Yuyue
Anju platform and may collect a deposit of no more than 5% of the total price.
Contracts must state the deposit amount, unit price, delivery date and
liabilities for failure to perform on schedule. If a developer fails to deliver
on time, buyers may rescind the deposit contract; the developer must return the
deposit and bear breach liability.
