China News Service, January 27. According to the website of the Hangzhou Municipal Government, the leading group for the steady and healthy development of the real estate market in Hangzhou recently issued the "Notice on Further Strengthening the Regulation and Control of the Real Estate Market". The purchase of one house within the scope of the purchase restriction in Hangzhou is restricted to 5 years.

If a house within the scope of purchase restriction in Hangzhou is given to others, the donor must be at least 3 years to purchase a house within the scope of purchase restriction; the recipient’s family must comply with Hangzhou’s housing purchase restriction policy (excluding bequests).

The following is the full text of the notice:

  All relevant units:

  In order to conscientiously implement the decisions and deployments of the Party Central Committee and the State Council, adhere to the positioning of "houses are for living, not for speculation", resolutely curb speculative real estate speculation, curb the excessively rapid rise in housing prices, and maintain the steady and healthy development of the city’s real estate market. The notice regarding the further strengthening of the regulation of the real estate market is as follows:

  1. Further strengthen housing purchase restrictions

  Those who have settled in this city for less than 5 years may purchase one house within the scope of the city’s purchase restriction.

  If a house within the scope of this city’s purchase restriction is given to others, the donor must have 3 years to purchase a house within the scope of purchase restriction; the recipient’s family must comply with this city’s housing purchase restriction policy (excluding bequests).

  2. Further strengthen housing sales restrictions

  Within the scope of this city’s purchase restrictions, the success rate of notarization lottery public sales of newly-built commercial housing projects is less than or equal to 10%, and it shall not be transferred within 5 years from the date of obtaining the real estate certificate.

  The hot commodity housing obtained through the priority purchase method shall not be transferred within 5 years from the date of obtaining the real estate certificate.

  3. Further strengthen tax regulation

  Within the scope of the city’s purchase restrictions, the period of time for the collection and exemption of value-added tax on the transfer of individual housing has been adjusted from 2 years to 5 years.

  Fourth, improve the identification standards for families without houses

  After April 4, 2018, if a house within the scope of purchase restriction in this city is transferred, and there is no record of owning a house within the scope of purchase restriction in this city for 3 years, it can be regarded as a household without a house.

  5. Improving the policy of priority purchase of high-level talents

  From the date of this notice, high-level talents who transfer houses within the city's restricted purchase range must have no record of owning houses within the city's restricted purchase range for 3 years before they can enjoy priority purchase of high-level talents.

  This notice shall come into effect on the date of issuance.

If the original policy is inconsistent with this notice, this notice shall prevail.

  Municipal Real Estate Market Stable and Healthy Development Leading Group

  January 25, 2021