In the real estate market, there are some illegal methods that may be used to manipulate house prices. These strategies often mislead buyers or investors by artificially creating information asymmetry or false market signals. The following are the common operating methods and potential risks that need to be vigilant： **1. Market information manipulation** 1. **False listing (Bait-and-Switch)** -Operation method: Intermediaries or developers list a small number of properties at a price higher than the market price, creating the illusion of rising house prices in the area, and attracting buyers to pay attention to other properties in the same area. -Impact: Increase buyers' psychological expectations and boost surrounding transaction prices. -Case: In 2021, a fictitious high-priced real estate listing of an intermediary in Shenzhen was investigated and dealt with by the regulatory department. 2. **Cover the plate and cherish the sale** -The developer obtained the pre-sale certificate in batches but deliberately delayed the launch of the order, creating the appearance that the supply is in short supply. For example, a project with 200 sets of sources will open 10 times, and only 20 sets will be pushed each time. **2. Fraud of transaction data** 3. **Yin and Yang contract price washing** -By signing two contracts, the high-priced contract is used by the bank to evaluate and obtain excess loans, and the true transaction price is lower. This move is suspected of loan fraud and money laundering. 4. **Self-buying, self-selling, knock-on** -Related parties have increased the record price through false transactions. A certain real estate has had three transfers of the same listing within six months, and the unit price has increased by a cumulative 40%. **3. Marketing misleading** 5. **Concept hype** -Abuse of unopened plans such as "school district housing" and "Free Trade Zone Radiation Circle" for publicity. A project in Hangzhou was punished for fictitious subway stations. 6. **Hire and grab room care** -At the opening of the market, employees queued up to create the illusion of snapping up, and a project in Chengdu was exposed as a "buyer" receiving daily wages to fill the market. **4. Financial leverage manipulation** 7. **Down payment loan boost** -Illegally provide down payment installments or credit loans for home purchases to reduce the threshold for entering the market and artificially expand demand. Shenzhen triggered regulatory rectification in 2016. **Risk warning：** - The legal level may involve false publicity in Article 8 of the "Anti-Unfair Competition Law" and the crime of high-interest loan transfer in Article 175 of the "Criminal Law". -Consequences of market distortions: The price of a hyped sub-center concept project in Tongzhou, Beijing, suffered a cut after the price was inflated by 30%. -Personal risk: Buyers may face loan default, asset shrinkage, and legal joint and several liabilities. **Rational response suggestions：** 1. Verify the record price: Verify the true record price of the listing through the official website of the Housing and Construction Department. 2. Compare historical transactions: Intermediaries are required to provide transaction records of the same community for at least 6 months. 3. Verify planning documents: developers are required to present government red-headed documents to support supporting commitments. 4. Capital supervision: Insist on depositing the house payment into the pre-sale fund supervision account. At present, the regulatory authorities have established a price declaration system. For example, Guangzhou requires that the price fluctuation of new listings should not exceed 10%, and Nanjing implements a second-hand housing listing price verification mechanism. It is recommended to obtain information through official channels such as the house price index of 70 cities of the National Bureau of Statistics and the shell real transaction data platform. The healthy development of the real estate market depends on transparency of information, and any price manipulation will eventually be subject to dual sanctions by market laws and laws.