Beijing Locals Awarded Property as Compensation for Eviction to be Considered as Existing Home-Owners
Published:
2011-03-09
According to the Beijing government, residents who have been awarded property as compensation for eviction from their former property, will be considered as existing home owners under new regulations that strictly limit property purchases in the capital. Policy makers also announced that all property transactions that took place after midnight on Feb 17, 2001, will be subject to the new regulations. The new regulations limit new housing purchases to registered local residents or newly arrived non-residents who have made social insurance in the city for 5 years.
Source
The Beijing News
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