BEIJING, April 12 The capital of China's Sichuan
province on Wednesday joined more than 10 other cities in
seeking to cool a sizzling property market by imposing a
years-long minimum time before a buyer can resell a home.
Chengdu's housing authority said in a notice on its website
that effective on Thursday, newly-bought homes cannot be sold
again for at least three years.
This year, a growing number of Chinese cities have been
imposing a minimum ownership period of at least two years. These
and other measures suggest intensified government efforts to
cool the red-hot property market.
Chengdu authorities have also urged banks in the
southwestern Chinese city to strengthen checks on home-buyers'
proof of income to contain credit risks by strictly fulfilling a
requirement that the ratio of monthly mortgage repayments to
income must not exceed 50 percent.
Wednesday's announcements mark the second time in a month
that Chengdu has unveiled property market curbs. In late March,
it tightened requirements on income tax and social security
records that non-residents making purchases have to produce.
Also on Wednesday, a small satellite city near Beijing,
named Chengde, announced restrictions similar to what Chengdu
imposed the same day. Chengde also slapped purchase limits for
non-residents and hiked the downpayment ratio for first- and
China has intensified a crackdown on property speculators
this year by rolling out much harsher measures in big cities,
while extending curbs to nearby satellite towns in an effort to
contain resurgent demand from frenzied buyers.
(Reporting by Yawen Chen and Nicholas Heath; Editing by Richard