Suzhou New Housing Policy 2020

The housing policy promulgated by Suzhou in 2020 is that non-local residents must pay taxes or social security of 1 year or more in Suzhou, Kunshan and Taicang for two consecutive years. Non-local residents are not allowed to buy two houses, and non-local residents are not allowed to buy four houses. When purchasing the first home, families of non-local residents must submit the social security certificate that they have paid 1 time or more 1 year or more in Suzhou, Kunshan and Taicang within two years after purchasing the first home, stop buying 1 house or more from non-local residents, and stop selling three or more houses.

The minimum down payment ratio of the first suite is adjusted from 20% to 30%. If there is a record of buying a house but no actual housing, and there is a suite but no loan record or has been settled, the minimum down payment ratio of the second suite is adjusted from 30% to 50%. Those who already have a house but have not paid off the loan can apply for commercial loans and raise the minimum down payment ratio from 50% to 80%.

Suzhou people can buy three houses locally. However, if you are not a local, you must have a social security certificate if you can buy a house in Kunshan, Suzhou, and you must pay a tax certificate within two years.

Whether you are Zhangjiagang or Changshu, Suzhou, whether you are a local or a foreigner, there will be no restrictions.

I also know about the loan restriction in Suzhou. In Suzhou, if you don't buy a house and have no loan record, the down payment ratio is over 30%. If the loan has been repaid, a down payment of 50% is required.

If you buy a house in Suzhou and the loan is paid off, then your down payment is 50%.

What tax should I pay for buying a house?

The following taxes should be paid when buying a house: business tax, city maintenance construction tax, education surcharge, personal income tax, deed tax, land value-added tax, stamp duty and registration fee. If it is an individual, it will be charged according to each 80 yuan.

According to Article 2 of the Provisional Regulations on People's Republic of China (PRC) Property Tax, the scope of property tax collection is: if the property right belongs to all citizens, it shall be paid by the business management unit.

When the owner or mortgagor of the house is not in the location of the house, or the property right of the house is unclear, and the dispute over the lease contract has not been resolved, it shall be paid by the house manager or user.

The property owners, management agencies, lessees, house keepers and users listed in the preceding paragraph are collectively referred to as taxpayers.