Sanya to issue new rules to limit house purchase
Under the new measures issued by China’s central government, the Sanya Municipal Government will issue new rules to institute house purchase limits to rein in the property market at the end of March, 2011, reports Hainan.net..
Sanya families who own one apartment and non-Sanya registered families who can submit certification of a year of paying social security or income tax can purchase one apartment (including commercial residential apartment or second-hand apartment).
Sanya families who have two or more apartments and non-Sanya registered families who have one apartment or without a year of income tax or social security payment certification will not be allowed to buy an apartment in Sanya at the moment.
“A certain impact will be definitely put on the prosperity of real estate properties after the official release of house purchase limits in Sanya since most potential buyers are from other cities in China.”, said Mr. Cai, an insider of the real estate information center in Sanya.
“However, it is also a good thing for the Hainan property industry as a whole. Many buyers will turn their eyes to other neighboring cities like Lingshui and Baoting County, where the local economy will be fast developed due to the growing property market.”, Mr. Cai also added.
According to some experts, the release of new rules of the house purchase limits on Sanya properties will step up the property sales that are entering a traditional low season
Translated by WOS Team
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