Guangzhou City, Opinion on Implementation of the Macroeconomic Policy of Ministry of Housing and Urban-rural Development and other Departments and Commissions in Order to Promote the Sustainable Healthy Development of the Real Property Market of the City
广州市关于贯彻住建部等部委宏观调控政策促进我市房地产市场持续健康发展的意见
November 09, 2010 | BY
clpstaff &clp articles &Guangzhou imposes age restriction on purchase of property.
Issued: October 15 2010
Effective: as of date of issuance
Main contents: According to the Opinion, people who are less than 18 years old may not purchase commodity residential premises in Guangzhou by themselves (Article 1). The following differential credit policies for residential premises for each family shall be stringently implemented:
| Type of purchase | Ratio of down payment for housing common reserve loans |
| First unit of residential premises of 90 square metres or less | ≥ 20% |
| First unit of residential premises over 90 square metres | ≥ 30% |
| Second unit of residential premises | ≥ 50% |
Commercial banks shall cease to grant housing common reserve loans to resident families that purchase the third or more unit(s) of residential premises (Article 2).
Related legislation: Circular on Determined Suppression of the Exceedingly Rapid Rise of Certain Urban Housing Prices, Apr 17 2010, CLP 2010 No.4 p.45; and Circular on Issues Relevant to Improving the Differential Credit Policies on Residential Premises, Sep 29 2010, CLP 2010 No.9 p.46
clp reference:4100/10.10.15/GZpromulgated:2010-10-15effective:2010-10-15This premium content is reserved for
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