An agent shows two couples the layout of a new residential development at a real estate fair in Shanghai. The city is cracking down on fake divorces, used by couples to get first-time buyer privileges and acquire more property. Photo: Getty Images
Sham marriages and divorces are common in China to beat limits on home and vehicle ownership – no wonder Shanghai has cracked down
- Couples go through fake divorces so one party can take advantage of first-time-buyer privileges to acquire an extra property, then remarry
- The practice stokes the rise in property prices by creating extra demand, but runs counter to President Xi Jinping’s dictum that homes are not for speculation
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China property
An agent shows two couples the layout of a new residential development at a real estate fair in Shanghai. The city is cracking down on fake divorces, used by couples to get first-time buyer privileges and acquire more property. Photo: Getty Images