THE city government has further tightened restrictions on home purchases, banning non-local tax payers from buying an apartment even if they make a supplementary payment of tax.
The new regulation, announced by the city urban planning, land and resources commission Wednesday, blocks a loophole in the regulation.
The original regulation allowed non-permanent Shenzhen residents, i.e. who don t own Shenzhen hukou, to buy a home here on the condition that they had paid local tax for one year.
However, it did not ban supplementary payment of tax and many people used the loophole to buy apartments.
According to a report by the China Index Research Institute, Shenzhen property prices reached 25,137 yuan (US$3,696) per square meter in February, up more than 22 percent from a year ago and up 0.53 percent from January. (Helen Deng)
