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Housing contracts spark controversy

(Global Times)

08:33, August 20, 2012

A housing compound in Shenzhen selling affordable homes came under attack from presales buyers Sunday after a number of buyers alleged that the developer behind the properties had not followed through with the terms of the presales contracts they had signed.

Buyers alleged that the developer misled them in terms of the size of the apartments they were purchasing. They also claimed the property management fees were unreasonable.

As China has yet to establish any standards for affordable housing contracts, property developers should follow the same contract standards applied to other commercial residential properties, a real estate lawyer told local media.

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