Rumor-spreading Wechat accounts of properties are shut down
Two public Wechat accounts spreading rumors about the city’s home purchase restriction policies were shut down by the Cyberspace Administration of Shanghai.
Both run by individuals, the two accounts fabricated false news that non-local residents who have received local residence permits for longer than three years would be entitled to purchase two homes in Shanghai.
One of the two operators, a 32-year-old man whose surname is Li, has been detained by the police, the administration said today.
Currently in Shanghai, local families are allowed to purchase two residential units at most while non-local families are entitled to up to one home.