First Time Ever: Individuals Cannot Buy Commercial Property in Tongzhou

Tongzhou has implemented the nation's first ban on individual purchases of commercial property.

ECNS: Beijing puts restriction on property buyers in Tongzhou district
Starting from Friday, individuals can no longer buy commercial or office buildings in Tongzhou district in Beijing, as the capital aims to cool down the market of its new administrative sub-center.

Only companies and public institutions are eligible buyers for new and resold commercial properties, according to a notice released by the city's housing authority on Thursday evening.

The city also restricted households with two apartments or single person with one from buying another in Tongzhou district, according to the notice. Same with the limit applied citywide, home buyers should be registered Beijing residents or contributing to social security funds in the city for a minimum of five years.
The Chinese article headline notes this is a first in the nation policy.

iFeng: 全国首例!北京通州将商住房纳入限购范围

No comments:

Post a Comment