The Shanghai government reiterated its intention to stick with the property curbs, one week after an insider said non-residents who have been in the city for three years will be eligible to purchase second homes, reports China Businesses News, citing shfg.gov.cn.

Before the clarification by the Shanghai authorities, the cities of Foshan and Wuhu had reversed policies intended to boost the property markets.

An employee at the Jiading Real Estate Trading Center confirmed it obtained notification that qualified non-Shanghai residents were only allowed to purchase one unit in Shanghai.

According to the report, a number of property brokerages had immedialtey notified all their branches, halting the provision of services to help non-Shanghai residents buy second homes in the city. 

Source:capitalvue.com