Beijing citizens may face stricter housing policy
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The Beijing municipal government will announce new housing rules and regulations today, an insider said. They will be the first local policy after the State Council released guidelines on April 17 that called for all-out efforts to maintain stability in the housing market.
The government will explain details this morning. The regulations are based on the 10 State Council guidelines and include stricter executive methods, the source said. Among the changes are:
? Banks will raise the standard of housing loans to the highest point;
? Buyers of a third home and non-residents who have not paid taxes in Beijing for at least a year will not be able to get housing loans; and
? Beijing citizens cannot buy as many houses as they want.
The guidelines issued by the State Council said that local governments should take temporary actions to limit the number of houses bought in a certain period. Local governments were pushed into the spotlight. Shenzhen and Shanghai are currently working on detailed regulations, and Shenzhen may also restrict the number of houses a local family can buy.
