BEIJING municipal authorities said yesterday that real estate control measures will continue in a bid to cut housing prices.

The municipal housing and urban-rural development committee made the remarks responding to local media reports on Saturday that Beijing authorities would soon allow home purchases by non-Beijing registered families who have been paying social security or income tax for at least three straight years, easing from current five straight years.

According to the requirements and instructions from the country's central economic work conference and the municipal government, the city will continue its measures on the sector, which aim to bring housing prices to reasonable levels, said the committee in a statement on its official microblog.

Last February, Beijing banned local registered families from buying a third apartment and non-local registered families with social security or income tax payments proof in the city for at least five straight years from buying a second apartment.

The purchasing limit, together with higher lending rates, higher down payment for second homes and a ban on mortgages on third homes, has cooled the hot property sector in the capital.

 

Source:shanghaidaily.com