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Beijing to release strict new housing rules
By Zhang Jiawei (chinadaily.com.cn)
Updated: 2010-04-28 16:00
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Beijing will release new housing regulations on Wednesday, making it the first city to have a detailed policy after the State Council, or the cabinet, released 10 guidelines on April 17 in a bid to maintain stability in the housing market, the Shanghai Securities News reported.
The newspaper cited people familiar with the matter and said Beijing's detailed regulations are based on the 10 guidelines but would be stricter in their implementation.
The city would limit the number of houses local residents can buy, and ban loans to non-residents' third-house purchases, the newspaper reported.
Shenzhen and Shanghai are also planning to create detailed housing regulations, with the former being likely to limit the number of houses local residents can buy, according to the newspaper.
