Beijing is to ban sales of apartments created from hotel properties because those apartments are unable to guarantee house buyers' rights and interests, the Caijing.com reported Thursday.

Hotel properties include hotels and vacation resorts, according to the document issued by the city's government.

The document said that after May 31, developers granted land transferring contracts on hotel projects are prohibited to sell hotel rooms by floor or unit. They are not allowed to alter their planned uses of the land, or to transfer parcels of the land without permission.

Those who already have permission to sell this kind of apartment should explain to buyers issues such as length of ownership, tax, and property fees, notify buyers about the original uses of the apartments, and cover these issues in purchase contracts.

Go to Forum >>0 Comments