The 11 cities are Beijing, Xiamen, Hangzhou, Fuzhou, Qingdao, Guangzhou, Qidong, Zhuhai, Changzhou, Huizhou, and the latest, Yangzhou.
The new rules require a holding period before selling a newly purchased home. Many home flippers use high interest short-term loans and flipping becomes unprofitable as holding periods reach a year or more. Rules are different for each type of property. Beijing has one of the strictest rules on companies that buy residential housing, requiring a three-year holding period.
iFeng: 楼市“限售”扩至11城 北京暂未跟进个人住房限售
Reuters: Chinese cities restrict home sales by buyers to fight speculation
HKMA fines Hua Nan Commercial Bank HK$9m for Anti-Money Laundering breaches
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Source: HK Monetary Authority | Source date: 19-Apr-2024 22:23
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