China's Beijing further relaxes home-buying curbs in property boost bid
Businesstimes News·
- The Beijing municipal government announced further relaxation of home purchase restrictions on August 7 to support the sluggish housing market.
- Non local residents are now required to pay income tax or social insurance for at least one year instead of two to buy homes citywide.
- The policy also increases the housing provident fund loan caps up to 2.4 million yuan for double income families and provides additional subsidies for specific households.