Shanghai Municipality, Opinions on Thoroughly Implementing the «General Office of the State Council, Circular on Continuing to Duly Regulate and Control the Real Property Market»

Issued: March 30 2013

Main contents: The Opinions strictly prohibit the provision of loans for the purchase of a third residential premises unit and above. Where the original value of the premises can be determined through past tax levy administration, premises registration and other such information, the tax shall be strictly calculated and imposed at the rate of 20% of the transfer income in accordance with the law.

Related legislation: Circular on Continuing to Duly Regulate and Control the Real Property Market, Feb 26 2013, CLP 2013 No.2 p.36; Circular on Issues Relevant to Improving the Regulation and Control of the Real Property Market, Jan 26 2011, CLP 2011 No.2 p.37; Circular on Further Regulating the Administration of Premises Purchases by Overseas Organisations and Individuals, Nov 4 2010, CLP 2010 No.10 p.50; Circular on Issues Relevant to Regulating the Individual Housing Fund Mortgage Loan Policy, Nov 2 2010, CLP 2010 No.10 p.48; Circular on Issues Relevant to Improving the Differential Credit Policies on Residential Premises, Sep 29 2010, CLP 2010 No.9 p.30; Circular on Specifying the Criteria for Defining the Second Unit of Residential Premises for Commercial Personal Residential Mortgage Loan Purposes, May 26 2010, CLP 2010 No.6 p.41; 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 Promoting the Steady and Healthy Development of the Real Property Market, Jan 7 2010, CLP 2010 No.3 p.31