Rumors about new regulatory measures for home sales are having Shanghai residents filing for divorce quicker than the mayor of Xuhui (semi) tore down Yongkang.
According to People's Daily, two days ago a divorce registration office in Xuhui district was forced to turn away divorce-seeking couples because they couldn't handle the crowds.
"Over 70 couples came today to get divorced, which is beyond the office's processing capacity," reported an office clerk.
Here's an annulment for you, and for you, and for you...
Currently, a single resident without a home registered under his or her name can purchase a house with a 30 percent downpayment in Shanghai. But according to the rumors, under the new rules starting in September the downpayment will be upped to 50 percent.
So couples are being sneaky... if one partner transfers his or her house deed to the other and then they get a divorce, the first spouse will still be able to purchase a new home with a 30 percent downpayment.
According to one Shanghai Real Estate Trading Center, sales had already exceeded 1,000 units only three days after the rumors had started.
But you know as they say, a house is not a home until.. you divorce?
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