**Exhibit 4.23**

SOUFUN OVERSEAS TRAINING AGREEMENT 

Article 1     Name of theAgreement 

SOUFUN OVERSEAS TRAINING AGREEMENT 

Article 2     Parties and Related Matters 

Party A: SOUFUNHOLDINGS LIMITED (hereinafter referred to as “Party A”) 

Business Address: 10/F, Tower 3, Xihuan Plaza, XichengDistrict, Beijing, China 

Party B: WALL STREET GOLBAL TRAINING CENTER, INC. (hereinafter referred to as “Party B”)

Business Address: 72 Wall Street, NYC, NY 10005 

Date of Agreement: December 20, 2011 

Agreement signing place: Beijing

Agreement Term: Through December 31, 2012 

Article 3     Agreement Background 

For its globaldevelopment needs, Party A, the largest real estate Internet portal in China, has decided to cooperate with Party B for SOUFUN OVERSEAS TRAINING (hereinafter referred to as the “Training”). 

Party B is a training institution with significant experience in training and maintains good cooperative relationships with well-knownAmerican universities and various research institutions. 

Article 4     Agreement and Performance

1. Party B shall be responsible for designing training programs for Party A based on Party A’s needs. 

2. Party B shall be responsible for carrying out the training and evaluate students after the training. 

3. Party B shall be responsible for providing experienced teachers and ensuring good quality for the training programs. 

4. Party B shall be responsible for preparing training materials. 

5. Party A and Party B shall cooperate according to agreed training schedules. A party shallobtain the other party’s consent seven days in advance to change any agreed training schedule. 

6. Party B shall beresponsible for arranging transportation and accommodation for program participants. 

7. Party A shall be responsible forproviding venue and facilities for the training in accordance with Party B’s request. 

Article 5    Training Fees and Calculation of Training Fees 

Calculation of training fees: training fees shall becalculated based on the number of program participants; and the basic rates are as follows, which shall be adjusted according to the actual costs: 

Short-term training (7 days) – US$6,100 per person 

Mid-term training (2months) – US$19,500 per person 

Long-term training (1 year) – US$55,000 per person 

The above basic rates include class tuition, class-related transportation expenses (excluding long-term training) and Party B’sadministration fees; Party B will charge Party A for any additional services. 

Article 6     Training Plan

Based on the training in 2011, the training plan for 2012 is as follows: 295 persons to attend short-term training; 10persons to attend mid-term training; and there is no long-term training at present. This training plan has been approved by both parties. To change the training plan, a party shall notify the other party one month in advance and obtain the otherparty’s consent. 

Article 7     Prepayment of Training Fees 

According to the training plan for 2012, the aggregate training fee for the year is US$1,994,500. As Party B needs to pay teachers inadvance to book their time for the training, Party A agrees, within seven days after signing this agreement, to pay 80% of the aggregate training fee (US$1,595,000) to Party B’s account. Party A shall refund Party any prepaid training feeswithin seven days after Party B’s request if the actual number of training participants is smaller than as planned. 

Article 8     Party A’s Rights and Obligations 

1. Party A shall provide training needs to Party B. 

2. Party A shall provide necessary staff and cooperate with Party B to ensure that the training goes as planned. 

 
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3. Party A shall cooperate with Party B on conducting pre-training surveys and research andprovide relevant materials to Party B on a timely basis. 

Article 9    Party B’s Rights andObligations 

1. Party B shall conduct pre-training research to ensure that the training is targeted and effective. 

2. Party B shall be responsible for designing and arranging the training programs and recommending training programs. 

3. Party B shall organize and carry out the training programs. 

4. Party B shall provide training materials. 

5. Party B shall promptly adjustthe training according to the performance of the training participants, and ensure the time and quality of the programs. 

Article 10     Liabilities of Breach 

1. If either party breaches the agreement, the non-breaching party has the right to terminate the agreement and be compensated for all the economic losses (including litigation expenses and legal fees);if both parties agree to continue to perform the agreement, the breaching party shall compensate the other party for its losses. 

2. If a party cannot fulfill its cooperative obligations hereunder due to force majeure, such party shall give prompt notice to the other party within two business days after the occurrence of such forcemajeure event. 

3. If either party cannot fulfill its cooperative obligations due to force majeure (including a. changes ingovernment policies and regulation; b. natural disasters, war, riots, epidemics or other unforeseeable events) and causes the other party to incur economic losses, such party shall not be liable for such losses; If a party does not perform itscooperative obligations for any other reason and causes the other party to incur economic losses, such party shall be liable for such losses. 

4. Liquidated Damages and Loss Calculation: Failure to perform its obligations hereunder by a party constitutes a breach of this agreement. A breaching party shall rectify its failure by performing itsobligations and compensate the other party for its losses. The liquidated damages under this agreement shall be no less than 20% and no more than 100% of the aggregate training fee hereof; compensation for economic losses by the other partyresulting from violating confidentiality hereunder shall be calculated separately. 

Article 11    Governing Law 

As the agreement is signed in Xicheng District, Beijing, China, both parties agree thatthis agreement shall be governed by the laws of the People’s Republic of China. 

 
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Any dispute arising under the agreement shall be settled in a court in the place of signingwhich shall have jurisdiction over this agreement. 

Article 12     Miscellaneous 

1. The parties may enter into one or more supplementary agreements for any matters not stipulated hereunder after friendly negotiation.Any supplementary agreement shall have the same legal effect as this agreement. 

2. This agreement is executed in two copies,and each party holds one copy. 

3. This agreement shall be effective upon being sealed by both parties. 

Party A: 

SOUFUN HOLDINGS LIMITED (Seal)

Party B: 

WALL STREET GLOBALTRAINING CENTER, INC. (Seal) 

 
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