[EXPLANATORY NOTE The information included in the filing updates and supplements this Registration Statement and the prospectus contained therein. No additional securities are being registered under this Post-Effective Amendment No. 1. All applicable registration fees were paid at the time of the original filing of the Registration Statement. SUBJECT TO COMPLETION, DATED MAY 24, 2011] [CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form F-3 of our report dated May 24, 2011 relating to the consolidated financial statements and the effectiveness of internal control over financial reporting, which appears in IFM Investments Limited’s Annual Report on Form 20-F for the year ended December] [Consent of Commerce & Finance Law Offices, PRC Counsel May 24, 2011 IFM Investments Limited 26/A, East Wing, Hanwei Plaza No.7 Guanghua Road, Chaoyang District Beijing People’s Republic of China Dear Sir or Madam, We hereby consent to the references to us by IFM Investments Limited (“the Company”) under the heading “Legal Matters” in this Registration Statement and under the]