Two cities in Jiangsu province relax restrictions on non-locals’ home purchases
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Two cities in Jiangsu province relax restrictions on non-locals’ home purchases
STOCKS

Two cities in Jiangsu province relax restrictions on non-locals’ home purchases

 

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Taicang city, East China’s Jiangsu province, has removed restrictions on home purchases by non-local residents, effective from August 17, according to the state-backed Shanghai Securities News, citing people working at the city’s housing regulator.

Previously, non-local residents in Taicang were required to provide records of local personal income tax payment or local social security contribution to become eligible to home purchases in the city.

Separately, Kunshan city, under the jurisdiction of Suzhou city, also in Jiangsu, has relaxed home purchase restrictions for non-local residents, according to Chinese news outlets The Paper, citing people working for the city’s real estate transactions administration.

Non-local residents that don’t own homes in Suzhou, are no longer required to provide records of local social security contribution when they buy their first homes in Kunshan, effective from August 17, according to the report.

The local authority hasn’t issue any official notice about the new policy, but did conducted “window guidance”, or informal notice, the report said.