Authorities in the Chinese city of Shanghai have tightened rules on companies buying property in their latest attempt to curb runaway housing prices.
According to the Shanghai Commission of Housing and Urban-Rural Development, companies with less than five years of operations will be barred from buying homes in the city, effective from Tuesday. At the same time, corporate buyers will not be eligible for home purchases unless their total tax payments have surpassed 1 million yuan (US$150,375)….
Source : South China Morning Post
Read more…Shanghai cracks down on home purchases by companies in latest bid to curb prices















