Why divorce is becoming an option for home buyers
By Pan Xiaoyi |
January 10, 2011, Monday
|
Print Edition
Print Edition
A record number of couples divorced in Nanjing last year.
The figure of more than 25,000, up more than 40 percent from the year before, is believed to be the result of restrictions on home purchases in the eastern city.
Jinling Evening News cited an Internet poll showing 64 percent of couples in Nanjing would divorce, while happily married, in order to buy a second home at lower cost.
While first-time buyers of apartments larger than 90 square meters pay a 30 percent deposit and get a 15 percent discount in interest rates, people buying second homes pay at least 50 percent down and an extra 10 percent on interest rates. The stricter rules were introduced early last year to crack down on real estate speculation.
Couples who divorce can buy two houses as first time buyers and then remarry once the deal is done.
The figure of more than 25,000, up more than 40 percent from the year before, is believed to be the result of restrictions on home purchases in the eastern city.
Jinling Evening News cited an Internet poll showing 64 percent of couples in Nanjing would divorce, while happily married, in order to buy a second home at lower cost.
While first-time buyers of apartments larger than 90 square meters pay a 30 percent deposit and get a 15 percent discount in interest rates, people buying second homes pay at least 50 percent down and an extra 10 percent on interest rates. The stricter rules were introduced early last year to crack down on real estate speculation.
Couples who divorce can buy two houses as first time buyers and then remarry once the deal is done.
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