First-tier Cities Restrict Company Purchases of Real Estate

Central planning is hard work!

iFeng: 防止企业炒房 限制企业买住房扩大至一线城市
How is Shanghai regulated?

According to the above documents, enterprises must meet three conditions for purchasing commercial housing:

1. The establishment period of the enterprise has been 5 years;

2. The amount of tax paid by the enterprise in this city has reached 1 million yuan;

3. The number of employees in the enterprise is 10 or above, and the social security and public accumulation fund are paid in the enterprise for 5 years in accordance with regulations.

If the company pays more than 5 million yuan in tax payment in recent years, it is not subject to the conditions for the establishment of the above-mentioned enterprises and the number of employees.

In terms of restricted sales, the number of holding days for commercial housing purchased by enterprises has increased from “three years” to “full five years”.
Shanghai differs from the three cities that previously restricted purchases by companies:
It is worth noting that unlike Xi'an, Changsha and Hangzhou, Shanghai does not adopt a “one size fits all” policy for the purchase of housing.

On June 24, 25, and 26, Xi'an, Changsha, and Hangzhou successively announced that they would suspend enterprises to buy houses in the restricted purchase area. This policy has never been seen in the history of property market regulation.

Specifically, Xi'an and Hangzhou require suspension of enterprises and institutions to purchase housing, and Changsha only proposes to suspend enterprises to purchase housing.

“Compared with the other three cities, Shanghai’s restrictions on the purchase of enterprises are much more 'fine'.” Zhang Bo, chief analyst of 58 Anju Rooms Research Institute, said that Shanghai clearly stated that the company meets the corresponding conditions for purchasing houses, so it is more accurate. The argument is "standardizing the behavior of companies buying houses."
More cities are expected to adopt these regulations in the future:
More cities in the future will follow suit

Zhang Dawei pointed out that for cities with tight supply and demand structure, this policy has a significant impact on alleviating market supply and demand tensions. In many cities, companies have purchased houses, and similar policies are expected to be replicated by multiple cities.

Zhang Bo also believes that the purchase restriction for enterprises is a good "patch" type of regulation and upgrade, which regulates the real estate market. More importantly, it has a further impact on the psychological level of buyers, and strengthens the attitude of not loosening regulation and cracking down on real estate speculation.

"It is certain that such policies will be reflected in more cities and become one of the means of precise regulation of the property market in the second half of the year." He said.

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