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Shanghai rebuts 'new' tight policy
By Cherry Cao |
May 16, 2012, Wednesday
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Print Edition
Print Edition
SHANGHAI has rebutted some media reports claiming that its ban on purchase of second home by single, or unmarried, buyers since February was a "new" tightening policy.
"The city hasn't introduced any new policies on home purchase restrictions, and a local government document released in February already made it very clear that grown-up children who don't have any property solely under their names will be allowed to make one purchase for marriage purposes," said a statement posted yesterday on the official website of the Shanghai Municipal Housing Support and Building Administration Bureau.
Some media reports on Monday said some district-level housing authorities, including Yangpu, Hongkou, Jinshan and Songjiang, have recently banned buying of second home by singles, citing this move as evidence the city has further tightened its property policies. The reports claimed that such purchase was allowed a month earlier in some districts but has recently been barred.
"The clarification made by the municipal housing bureau just indicated again that the government remains resolute in maintaining its property curbs," said Song Huiyong, director of research at Shanghai Centaline Property Consultants. "Such a ban is quite reasonable because it both takes into account the real demand of grown-up children and preventing speculation."
Shanghai and about 40 cities in the country have imposed curbs on home buying since last year.
"The city hasn't introduced any new policies on home purchase restrictions, and a local government document released in February already made it very clear that grown-up children who don't have any property solely under their names will be allowed to make one purchase for marriage purposes," said a statement posted yesterday on the official website of the Shanghai Municipal Housing Support and Building Administration Bureau.
Some media reports on Monday said some district-level housing authorities, including Yangpu, Hongkou, Jinshan and Songjiang, have recently banned buying of second home by singles, citing this move as evidence the city has further tightened its property policies. The reports claimed that such purchase was allowed a month earlier in some districts but has recently been barred.
"The clarification made by the municipal housing bureau just indicated again that the government remains resolute in maintaining its property curbs," said Song Huiyong, director of research at Shanghai Centaline Property Consultants. "Such a ban is quite reasonable because it both takes into account the real demand of grown-up children and preventing speculation."
Shanghai and about 40 cities in the country have imposed curbs on home buying since last year.
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