Soufun facing boycott over high charges

Property brokerages' feud with Soufun Holdings Ltd deepened on Tuesday, with 13 brokerages launching a boycott in Shanghai against the country's biggest property information website over "exorbitant fees".

The brokerages, led by Centaline Property Agency, Century 21 Real Estate and Shanghai Deovolente Realty, accused New York-listed Soufun of going back on its word when it introduced new ancillary charges that effectively negate a discount it promised in June in a reconciliation agreement.

"Over the past month, Soufun disturbed market order in Shanghai through black box operations ... and the brokerages have protested, but to no avail," the brokerages said in a joint statement.