On January 30, it was reported online that Suzhou had completely lifted purchase restrictions, and house purchases were no longer limited to area and number of units. In response, The Paper called the Suzhou Municipal Housing and Urban-Rural Development Bureau, and staff stated that there is no home purchase qualification review for new and second-hand homes, and the sales restriction policy for new homes is still in place for two years.
A staff member of the Suzhou Real Estate Trading Center also said, “Starting from today, the number of units will no longer be reviewed, nor will the qualifications for home purchase be considered.”
In September last year, Suzhou City’s policy proposed that in order to meet the demand for improved housing, the purchase qualification review for commercial housing with an area of 120 square meters and above would no longer be conducted.
Relevant staff from the Suzhou Municipal Housing and Urban-Rural Development Bureau said that in September last year, Suzhou's purchase restriction policy was relaxed. For the purchase of commercial housing below 120 square meters, non-local household registrations enjoy the benefits of local household registration, without social security and personal tax.
According to the CRIC Suzhou monitoring report, at that time, non-Suzhou residents could purchase three units of less than 120 square meters, and there was no restriction on purchases of more than 120 square meters; Suzhou residents could purchase three units of less than 120 square meters, and there were no restrictions on purchases of more than 120 square meters.
According to the notice "On Several Policies and Measures to Promote the Sustained Recovery of the City's Economy" issued by the Suzhou Municipal People's Government on September 11, 2023, the notice mentioned that rigid and improved housing needs will be supported. Improve real estate policies and measures and optimize the home purchase service process. Priority will be given to ensuring and solving more people with urgent housing needs. New citizens, young people, new employment groups, and permanent residents will be subject to the same policies as those with local registered residences when purchasing houses. To meet the demand for improved housing, there will no longer be a home purchase qualification review for the purchase of commercial housing with an area of 120 square meters or more. Comprehensive measures such as housing purchase subsidies, room ticket placement, and group purchasing will be adopted to better meet residents’ rigid and improved housing needs. We will implement the reduction of the down payment ratio and the loan interest rate for first and second homes, provide individual tax incentives for individual residents to purchase housing, and encourage individuals to “recognize the house but not the loan” for their first home, and encourage county-level cities (districts) to adjust to the actual situation of the regional market. Extend policies such as home purchase subsidies.
The Paper reporter Ji Simin