The "price-cut restriction order" implemented in multiple regions has now reached Hangzhou. According to regulations from relevant Hangzhou government departments, starting today, if the actual transaction price of commercial housing falls more than 15% below the filed price, online contract signing will be restricted through technical means. This means the rumored "price-cut restriction order" will begin implementation. In fact, over the past week, developers of several discounted projects in Hangzhou were summoned by the housing management department for talks and were informed that the housing management and price supervision departments would introduce a price-cut filing system.
　　"We have a portal on the Transparent Home-Sales Network, where we go through the online contract signing process. Through technical means, a 15% downward limit can be automatically set. If our actual transaction price is more than 15% below the filed price, the online sales system will automatically lock the transaction and online contract signing procedures cannot proceed," a project marketing manager told reporters.
　　Many projects in Hangzhou previously had customers who subscribed but had not yet converted to signed contracts. After receiving the notice yesterday, sales staff at some projects immediately notified customers to sign.
　　However, it is not impossible for developers to sell at substantial discounts, "provided they reapply and lower the filed price of the housing, as long as the difference between the actual price and the new filed price is within 15%. But the problem is that reapplying for the filed price takes at least 7 to 10 days, or even longer. Discounting itself is meant to boost sales volume—how can we afford to waste that much time?" one developer representative said.
　　Since the Spring Festival this year, voices of price cuts in the Hangzhou property market have frequently appeared. After the price cuts, protests by homebuyers followed closely. Every move in the Hangzhou property market attracts national attention.
　　If the "price-cut restriction order" troubles some developers, then a news report from the media yesterday made Hangzhou developers "overjoyed." According to reports: multiple sources from the Ministry of Housing and Urban-Rural Development confirmed that, apart from Beijing, Shanghai, Guangzhou, and Shenzhen, other cities can adjust their purchase restriction policies on their own, especially in places with excessive inventory, but no explicit document will be issued.