Wuxi Raises Homebuying Threshhold


Via chinadaily.com.cn

Starting from Friday, seven cities-Changsha, Chongqing, Nanchang, Nanjing, Guiyang, Xi’an, and Shijiazhuang-announced that they would strengthen policies against speculative buying in the residential real estate market.

On Monday, Wuxi in Jiangsu province also raised its threshold for homebuyers, requiring that all homebuyers without household registration, known in Chinese as hukou, in the city should have a record of having paid income tax or contributing to the social security fund for two consecutive years.

These cities join the top-tier cities and provincial capitals which had already started to curb speculative home transactions since the beginning of the year.




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