Shanghai Municipality, Measures Relevant to Further Strictly Implementing State Policy on Regulating and Controlling the Real Property Market

Issued: November 8 2013

Main contents: For resident households wishing to take out a commercial bank loan to purchase a second residential premises unit, the ratio of the down payment is increased from not less than 60% to not less than 70% (Article 4). For resident households whose permanent residence is not in Shanghai that wish to purchase residential premises are now required to provide proof of paying taxes or social insurance premiums in Shanghai for a total of at least two years during the three years before the date of purchase of the premises (Article 6).

Related legislation: 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》, Mar 30 2013, CLP 2013 No.3 p.40; 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; and Circular on Promoting the Steady and Healthy Development of the Real Property Market, Jan 7 2010, CLP 2010 No.3 p.31