Source: Macau Business
China's Ministry of Housing and Urban Rural Development announced Monday that purchases of housing by overseas organizations and individuals in the country would be capped or restricted, a move widely seen as combating speculative money from overseas that might flow into the property market.
Under the new rules, individuals from Macau, Hong Kong and Taiwan would need to provide documents proving they are working, studying or residing on the mainland when they make home purchases, official news agency Xinhua reported.
They will only be eligible to purchase one flat for their own use.
Further, the new rules also require that overseas organizations in the country may only purchase non-residential housing in the cities of their registration to be used as offices, rather than as residential homes.
No comments:
Post a Comment