The Ministry of the Interior propose severe penalty to fight real estate speculation, maximum fines of TWD 50 million and 3 years of imprisonment

The Ministry of the Interior propose to amend "Equal Land Rights Regulations" and the "Regulations on the Administration of Real Estate Brokerage Industry" to fight real estate speculation.

First, to transfer the property pre-sale contract and the resale of newly completed housing will be fully restricted. Secondly, the maximum penalty for the speculation is 3 years imprisonment or a combined fine of TWD 50 million to effectively prevent speculation.

The Ministry of the Interior explained that by observing the recent sales of pre-sale property, it was found that the construction projects were mostly sold in batches and limited sales. However, because investors used the method of "transfer the property re-sale contract" after the group signed the pre-sale contract, it formed the illusion that the construction project was sold out. This has caused panic among consumers who want to buy houses, which has led to the continuous increase in the price of construction projects. This amendment to restrict the exchange of property pre-sale contracts will curb the speculation that causes by fake sales and return the market to rational transactions and reasonable transaction prices.

The amendment to the "Equal Land Rights Regulations" and the "Regulations on the Administration of Real Estate Brokerage Industry" focus also on anyone who intends to influence transaction prices, create false sales, and monopolize resale for profit and other real estate speculations. Violators will be fined TWD 1 million to TWD 5 million; if it causes public panic and unrest in market transactions, it harms the public or others, and may be sentenced to 3 years of imprisonment or a combined fine of TWD1 million to 50 million.