From September 30 to October 6, the new house purchase restrictions were successively implemented in more than ten cities in China, including Beijing, Tianjin, Zhengzhou, Wuxi, Jinan, Hefei, Wuhan, Suzhou, Nanjing, Shenzhen, Guangzhou, Zhuhai and Dongguan. On September 30, Bejing released a policy requiring a minimum down payment ratio of 35% for the purchase of a first home, and a maximum down payment ratio of 70% for a second house. On October 5, a regulatory policy issued by Nanjing City stipulates that non-registered residents are required to provide evidence of tax and social-security (urban social insurance) payments for more than one year in order to purchase their first home in Nanjing. Adult registered residents who are single (including divorced) are allowed to purchase only one house. Besides requiring a minimum down payment ratio of 30% for purchasing a first home, the policy stipulates that the households who have purchased a house without loans or have purchased a house with loans which have been paid off are required to make a minimum down payment of 50% for the purchasing a second house; the households who have purchased a house with outstanding loans are required to make a minimum down payment of 80% for purchasing a second house; those that have two or more houses are prohibited to purchase with housing loans. The National Day holiday of 2016 was a holiday in history during which the most stringent real estate regulation policies were released. Professor Liu Zhibiao, Dean of Yangtze IDEI, believed that those intensive real estate regulation policies were the most stringent in history. He held heated discussions with relevant experts on the trend of the real estate market and the complex impact of regulatory policies on economic performance, and encouraged them to provide recommendations and proposals.
