Property News · July 15, 2020

Shenzhen toughens local residency requirements to douse ‘violent surge’ in China’s hottest residential market


Shenzhen has tightened rules on home purchases by introducing additional residency and tax requirements to douse a “violent surge” that turned China’s Silicon Valley into the hottest property market in the country.Residents with hukou in the south-eastern city bordering Hong Kong will be only be allowed to buy a home if they have held the so-called local household registration paper for more than three years, according to a statement published by the Housing and Construction Bureau on Wednesday…

Source : South China Morning Post
Read more…Shenzhen toughens local residency requirements to douse ‘violent surge’ in China’s hottest residential market