BEIJING, Dec. 7 -- Shanghai's housing administrator will require online records for all second-hand property transactions beginning from next year, Youth Daily reported today. Trial operations will be launched in the city's six districts and Chongming County as of Dec. 18.

    Online records will be a must for any second-hand property; otherwise, their sales or rent contracts won't be recorded in the official database, according to a new regulation issued by the Shanghai Municipal Housing, Land and Resource Administration Bureau.

    Properties that have more than one agent will only get one online record to avoid repeated sales, said the regulation.

    The real-estate trading centers in Jiading, Songjiang, Jinshan, Nanhui, Fengxian, Qingpu and Chongming districts will refuse to register transaction applications for properties without online records beginning from Dec. 18.

    "It will be an essential way to further protect the benefits of buyers as houses with false information won't be recorded in the official database," said an official with the bureau.

    Local property agents are required to update their qualification certificates on the official Website of the Shanghai Real-Estate Trading Center (www.fangdi.com.cn), and they should apply for permits for handling online transactions from the center.

    The center is responsible for recording every second-hand property transaction and for publishing information on local real-estate agents.

    Meanwhile, the center will provide authentic sample contracts that are needed during second-hand property transactions, which will bring convenience to home owners and buyers who reach a trading agreement without a real-estate agent.

    "These services are all free, and help to evade fraud," said the official.

    (Source: Shanghai Daily)