[photopress:property_shanghai.apartment.jpg,full,alignright]The Shanghai Housing and Land Resources Administration Bureau has clarified media speculation that those without temporary residence permits might encounter policy barriers.
People from other parts of the country who work and live in Shanghai will still be able to buy homes in the city.
The bureau said, ‘We are implementing all the guidelines set by the central government and sparing no effort fostering a healthy and regulated housing market. House buying needs will be further adjusted and rational home purchase plans will be supported.’
An industry expert who declined to be identified, said, ‘It is impossible that Chinese people from other parts of the country will be banned from buying houses in Shanghai in the future.
‘In my opinion, the government’s plan to work out such policies, though still without a timetable, will mainly aim to curb cross-border, speculative property investments, not reasonable housing purchases by people from other parts of the country.’
Some people within the industry said Shanghai’s housing market has been long plagued by some cross-border property speculators, mainly from Wenzhou of Zhejiang Province and from Shanxi Province. Some individuals bought dozens of apartments in a single residential development. Such a move allows them to monopolize prices at particular projects and even neighboring areas in some cases.
Source: Shanghai Post