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More cities curb housing sales in China


12-22-2016 16:13 BJT

Two more Chinese cities escalated their property curbs this week. Wuhan added another three districts in its curbing measures, effective Thursday.

People living within the area are forbidden from purchasing a third house, while non-local residents must pay at least two years of individual income taxes or social security to buy their first house.

Data released by the National Bureau of Statistics shows that the prices of newly built residential houses in Wuhan jumped 1.6 percent month on month in November. That was among the top five increases nationwide.

Zhengzhou also tightened its real estate curbs on Thursday, putting caps on loans and home sizes.

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