[Introduction]: On the evening of December 19, 2018, Shanghai Municipal Construction Commission published “Opinions on Improving the sales management of e-commerce service real estate projects” on the official website. The notice clearly states that e-commerce service properties of the land sold before the “330 new deal” can be sold to individuals.

On December 19, 2018, the official website of Shanghai Municipal Housing and Construction Commission announced that e-commerce service properties of real estate projects that were sold before March 30, 2017 (including the same day) were no longer limited to sales targets.

Latest policy:

On the evening of December 19, Shanghai Municipal Housing and Urban-Rural Construction Committee issued “Opinions on Improving the sales management of e-commerce service real estate projects” (hereinafter referred to as “opinions”), which clearly stated:

“Real estate development enterprises sell e-commerce service properties, and the sales target should be legal entities” stipulated in the letter [2017] No. 65, “e-commerce service properties”, refers to the e-commerce service real estate project after the date of publication of the document (March 30, 2017), before March 30, 2017 (including that day) E-commerce service real estate projects with land transfer transactions do not implement this provision. The above opinions will be implemented from December 20, 2018.

Original policy: 2018 Shanghai Housing and Construction Commission’s opinions on improving the sales management of e-commerce service real estate projects

Interpretation of the new deal:

That is, e-commerce service properties formed by land transfer before March 30, 2017 allow individuals to purchase. In the past, this kind of property was only limited to the purchase of enterprises.

The Shanghai Municipal Housing and Construction Commission interpreted the opinions on the official website and said that the land transfer transaction before March 30, 2017 (including that day) (subject to the signing of the land grant contract, the confirmation of the transaction or the confirmation of the announcement of the land transfer transaction date) for real estate projects, e-commerce service properties are no longer limited to sales objects. Individuals can only transfer e-commerce service properties after they have obtained real estate certificates for 2 years.

Policy Interpretation: 2018 Shanghai Housing and Construction Commission interprets opinions on improving sales management of e-commerce service real estate projects

Shanghai Municipal Housing and Construction Commission said that in the next step, all housing and construction departments in Shanghai will jointly strengthen the sales supervisor of e-commerce service real estate projects, further standardize the market order, and create conditions for maintaining stable market operation and comprehensively optimizing the business environment.

(Source: Shanghai Municipal Housing and Construction Committee, zhongxin.com, Daily Economic News)