Caixin Explains: The Capital's New Housing Rules
With home prices rising rapidly again, a number of regional governments have come up with measures to cool property markets. Here is a look at new rules unveiled by the Beijing municipal government on October 23 and the possible impact they will have.
What's special about the new Beijing rules?
They aim to boost real estate purchases by people who actually intend to live in the home. The name for the set of seven new regulations can be translated as "Beijing Seven Rules" and the rules uses a new term: "self-use commercial housing." The rules are intended to make homes more affordable, and are aimed at smaller homes the lower-middle income group might buy. They also aim to discourage speculators.
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