Shanghai Real Estate News
Home >Shanghai Real Estate NewsTown enacts new policies to slow soaring Property prices
Update：2014-01-23 10:48 Views：
SHANGHAI today pressed harder on the brakes, hoping to slow Rapid-Increasing real estate Costs with aset of new Guidelines.
Most notably, the Town joined Shenzhen in raising the Minimal Decrease payment to 70 % from the
previous 60 % for second-home Purchasers, Getting the second major Chinese Town to adopt a
further tightened mortgage Plan.
The local housing authority also Mentioned on its Web site today that non-local households capable of
Offering a Taxes or social insurance certificate to Confirm their residence in Shanghai for a
cumulative 24 months over the past 3 Yrs will be entitled to buy one property.
The previous Guideline Recommend that they should Confirm their residence for a cumulative 12 months over
the past two Yrs in Purchase to be eligible for the property Buy.
Moreover, the local government also Mentioned land Provide for residential development should be raised
by an additional 30 % this Yr with at Very least 1,000 hectares Getting Launched for auction in
2013.
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