Consumer Discretionary, Real Estate May 17, 2022 10:39 PM (GMT+8) · EqualOcean
Zhongshan Municipal Bureau of urban and rural development of Guangdong Province issued a number of measures to optimize the proportion of land supply and promote the healthy development of the real estate market. The bid security can be set at no less than 20% of the initial transfer price. After the transaction, the bidding deposit will be automatically converted into the contract deposit. If it is less than 20% of the transaction price, the bidder shall pay the insufficient part on time before signing the transfer contract. Zhongshan will also optimize the payment method of land price. It can be agreed to pay the land price in installments. The transferee must pay the down payment (including the deposit) of 50% of the transfer price within 30 days from the date of signing the transfer contract. The balance (50% of the transfer price) shall be paid in one time or in installments within 365 days from the date of signing the transfer contract, and the interest shall be paid according to the contract.

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