The word “Feng Shui” banned from property ads
“Feng Shui”, an ancient metaphysical philosophy, is quite popular and frequently used in Chinese real-estate advertisements. In order to prevent a property bubble from growing, Beijing has been containing the ballooning property prices through a strict control of the real-estate platforms’ promotional language. According to CNBC and Chinese state news agency Xinhua, good feng shui, promises of solving Hukou and school admission problems, as well as claims of high investment returns, have been banned from real-estate companies’ advertisements’ rhetoric.
The historically high house prices in China may bring harm to the country’s economic development and decrease the attraction that big cities still have for the young labour force, for whom the surging property price is unaffordable. Aiming to cool down the fever of property market and prevent the exodus of young people from big metropolises, the authorities have adopted measures to restrict the purchase of second houses and cut down individual mortgage loans. New subsidized social housing has been also introduced to non-local residents in order to help them settle down and reconsider their decision to move away.