One household limited to purchase one property in Sanya
According to the latest housing regulation, a family is allowed to buy only one commercial apartment in Sanya from Oct 12th, reports Hainan Daily on Oct 16th.
The Sanya municipal government will strive to curb property speculation in a bid to promote a healthy development of the Sanya real estate market.
The commercial banks in Sanya are required to enforce a strict differentiation of individual housing credit policy and stick to rigorous enforcement of the real estate transaction tax policy.
In order to execute strict authentication norms of the second apartment, a housing registration system for identifying individual information and an indemnificatory housing registration system are under development.
Anyone who is found violating the regulation would not be able to register his or her ownership of the property.