Dalian Toughens Home Buying Regs

The Dalian Urban & Rural Construction Committee will restrict sales of new residential properties in the city to one per household, effective October 19, Xinhua News reported. Dalian municipal government is also barring commercial banks in the city from issuing mortgages to applicants with more than two existing properties and has instructed banks to halt temporarily the approval of mortgages for non-local residents unable to produce up-to-date tax and social security payment documentation, the report said.

The Sanya municipal government recently issued tighter controls on residential real estate purchases.