Beijing Municipality, Circular on Improving the Policies on the Sale of Commercially Developed Residential Premises and the Differential Loan Policies

北京市关于完善商品住房销售和差别化信贷政策的通知

May 23, 2017 | BY

Susan Mok

Beijing's mortgage down payment percentage has been raised to the highest among Chinese cities.

Clp Reference: 4100/17.03.17 Promulgated: 2017-03-17

Issued: March 17 2017

Main contents: At least three years shall have elapsed before a commercially developed residential premises unit purchased by an enterprise is put on the market again, and if the transaction counterparty is an individual, matters shall be handled in accordance with Beijing's restricted purchase policies (Article 1).

If a resident household possesses a residential premises unit in its name in Beijing, or if it does not have such a premises unit but has a record of a commercial housing loan or record of a loan from the housing reserve, the down payment percentage for the purchase of ordinary residential premises for own use shall not be less than 60% and for non-ordinary residential premises for own use shall not be less than 80% (Article 2).

The extension of personal housing loans (including loans from the housing reserve) with terms of at least 25 years is suspended (Article 3).

clp reference:4100/17.03.17/BJ Issued:2017-03-17

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