Guangzhou City, Measures for the Administration of the Sale of Commodity Residential Premises with Price Restriction (Trial Implementation)
广州市限价商品住宅销售管理办法(试行)
April 02, 2008 | BY
clpstaff &clp articles &Guangzhou releases new types of residential premises for the middle-income group.
Issued: January 3 2008
Effective: as of the date of issuance for a period of three years
Applicability: Conghua City and Zengcheng City shall formulate corresponding measures with reference to these Measures and take into consideration their local situation (Article 24).
The term “commodity residential premises with price restriction” (Premises with Price Restriction) refers to commodity residential premises developed, built and sold in strict accordance with restrictions on the selling price, unit area of the premises and sales targets, etc. imposed by the government at the time of public grant of land used for commodity residential premises, by the development and construction work unit that obtains the leasehold through public competition (Article 2).
Main Contents: Premises with Price Restriction are macroeconomic control measures to relieve the housing problems of the middle-income group and to suppress the price surge of commodity residential premises (Article 3). The floor area of a set of Premises with Price Restriction may not exceed 90 square metres (Article 7). Persons eligible for purchasing Premises with Price Restriction who apply to purchase premises in the name of both spouses shall enjoy priority to purchase (Article 11). Contracts for grant of leaseholds for Premises with Price Restriction shall stipulate that the development and construction work units may not mortgage the land or the construction project in progress (Article 14).
The Premises with Price Restriction may not be leased out or assigned within five years of the date of real property ownership registration. Where the premises are leased out or assigned after a period of five years, the owner shall pay the income from the land to the government, which shall be calculated based on 70% of the difference between the market price of the commodity residential premises in the same lot and of the same type and the purchase price of the Premises with Price Restriction at the time of lease or assignment (Article 15). Where, within five years from the date of real property ownership registration, a person that has already purchased Premises with Price Restriction owns another set of residential premises as a result of purchase, inheritance, gift or division of property, he/she shall, prior to the registration of ownership to his/her new residential premises, apply to the municipal land and housing bureau for repurchase of the Premises with Price Restriction or for arrangement for the purchase of the said premises by qualified purchasers (Article 16).
Related Legislation: State Council, Several Opinions on Solving the Housing Problems of Urban Low-income Families, Aug 7 2007; and Opinions on the Adjustment of the Housing Supply Structure and Stabilization of Housing Prices, May 24 2006, CLP 2006 No.7 p.8
clp reference:4100/08.01.03promulgated:2008-01-03effective:2011-01-03This premium content is reserved for
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