Foshan Limits Existing Home Purchases Too

Most cities restrict how many new homes an individual can purchase, but Foshan has added existing homes to the restricted list.

Caixin: Guangdong’s Foshan Latest City to Set Limits on Buying Pre-Owned Homes

n Foshan, a major manufacturing hub in Guangdong, local buyers are now allowed to purchase up to only two homes, whether they are new or pre-owned properties, the city’s government said late Wednesday. Previous policies set a limit only on the purchase of new homes, but not pre-owned homes.

Under the new rule, non-local buyers who can prove that they have paid taxes or contributed to the social security system over the past year are now allowed to buy only one pre-owned home. Non-local buyers who cannot offer such proof are banned from the market.