Nanjing has become latest major Chinese city to impose purchasing restrictions on its housing market in the face of intensifying price growth.
The Nanjing municipal government has announced that from today it will ban families registered as residing in the city of more than 8.2m and which own two or more homes from putting newly built residences up for sale. The government also banned non-locals who own one or more residences from selling either newly built or existing housing, according to a statement published today on its official website.
The move follows the introduction of similar restrictions in the second-tier cities of Xiamen and Hangzhou, with all three cities located in booming coastal provinces. Authorities in Hefei, capital of the inland province of Anhui, also announced a cap on mortgages of two per person in early August.