Property agent ‘marries four times’ to help clients buy homes in Shanghai

HONG KONG — A property agent in Shanghai claims he has got married and divorced four times to help his customers meet residency rules to buy apartments, with his eldest bride aged more than 70, according to Chinese media reports.

The man, who was only identified by his family name Wang, married his customers as people from outside the city who have not paid social insurance or tax for a consecutive five years in the metropolis cannot buy a home, the state-run TV station CCTV reported.

Mr Wang, who is aged about 30, is a registered resident in Shanghai.

People from outside the city could buy at most two apartments if they marry a registered Shanghai resident and the couple has not previously purchased a home there.

Customers would marry Mr Wang, buy apartments and then get a divorce before transferring the property to their name, the report said.

The report said Mr Wang got paid 60,000 yuan (S$12,187) to 80,000 yuan for each transaction.

China’s central bank last week ordered banks to tighten the rules on mortgage applications, including scams such as people getting divorced so couples were eligible to buy a second home. SOUTH CHINA MORNING POST