More mainland cities have followed Beijing in restricting further purchases of third homes, with cities like Shanghai responding to the government’s latest measures to curb property speculation.
Shanghai and Nanjing announced a new set of restrictions, prohibiting families from acquiring more flats if they are registered in both cities and own two houses and are registered in other cities and own one house.
If families are registered in other cities and do not own a property, they should provide proof of social security taxes paid for at least one year and income, before acquiring their first home.
Guangzhou’s local government said it has already agreed to implement similar restrictions.
Beijing has implemented tougher rules to cool the property market but only Guiyang, Shanghai and Nanjing have published their property price targets.