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1st house-purchase cap for lower-tier cities issued in Taizhou

08-29-2011 09:05 BJT

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The city of Taizhou in the east province of Zhejiang has issued restrictive measures on home purchases. The measures mark the first house-purchase cap for second and third tier cities.

The notice issued by the Taizhou municipal government states potential home buyers must prove they've paid personal income tax or social insurance for more than a year within the past two years. The new restrictions also ban property purchases for families with the city's Hukou who already own two or more homes.

As for home owners who do not possess the city's household registration, they will not be allowed to purchase a second property. The same rule will be applied to those who failed to pay personal income tax or social insurance for at least one year in the past two years. First-tier cities, such as Beijing and Shanghai have been targeted by the house-purchase cap since January this year.


Editor:Zhang Dan |Source: CNTV.CN

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