TIANJIN — North China’s Tianjin Municipality on Wednesday abolished restrictive measures on home purchases, marking another major Chinese city that must adjust its home purchase policies to stabilize the market real estate.

Located near Beijing, Tianjin has more than 13 million inhabitants.

The city lifted restrictions on the purchase and transfer of new and second-hand housing as well as price caps on sales of new housing, according to a circular jointly issued by six Tianjin government departments, including the municipal commission of housing and urban-rural construction.

To align with national financial support policies, Tianjin has standardized the minimum down payment rate for personal housing loans to 15%, regardless of whether the purchase is for a first or second home, said the circular, which came into effect Wednesday.

Similarly, Chengdu in southwest China’s Sichuan Province on Tuesday granted all home owners and buyers in the city the right to apply for household registration in the city.

People who purchase pre-delivered basic housing, or second-hand housing in the Chengdu administrative area, can apply for city household registration at the location of the housing, in accordance with new regulations issued by municipal authorities.

Residential or household registrations, called hukou in Chinese, have always been a key attraction for non-natives in major cities, as they open up opportunities and benefits when gaining permanent residency in a city.

Chengdu has a population of over 21 million, making it one of the most economically dynamic cities in southwest China. The number of people with household status in Chengdu currently stands at nearly 16 million, according to the Chengdu Municipal Bureau of Statistics.

The new regulations, valid for three years, grant owners and buyers undifferentiated eligibility to apply for residency status in Chengdu, eliminating hukou qualification restrictions prescribed in previous regulations regarding the size of the property purchased and the time elapsed since purchase.

Recently, major Chinese cities, including Beijing, Shanghai, Guangzhou and Shenzhen in Guangdong province, have adjusted their real estate policies by unveiling a series of measures aimed at boosting local real estate markets.

Meanwhile, China’s Ministry of Housing and Urban and Rural Development said it will help municipal governments, especially those in first-tier cities, leverage their decision-making powers to regulate the real estate market and adjust policies restricting the purchase of housing based on local conditions. .

China