Corruption in real estate

Of all factors behind the ever-rising housing prices, corruption should never be ignored. The fact that nearly 2,000 cases of corruption have been cracked in this area, from August last year to August this year, has justified the consensus that real estate has become a hotbed of corruption.

Nearly 200 officials above the county governor level were found to be involved in these cases. It is now quite common for a string of officials to be involved in a single case.

The abuse of power has resulted in a series of problems in the real estate market. When real estate developers bribe officials to get a piece of land for development, or bribe officials to get a housing project approved, or pay officials to get this or that done, they don't pay from their own pockets, they raise the housing prices so consumers pay for the bribes.