Wuhan purchase restriction policy 2023

Wuhan's purchase restriction policy in 2023 includes three parts: Wuhan purchase restriction scope, home purchase qualification, and home purchase information.

1, Wuhan purchase scope

Wuhan in 2023 on the issue of the scope of the purchase of housing related policies **** there are two points, the first refers to the support of reasonable housing consumption of residential households, combined with the price of housing and the inventory of new homes dynamically adjust the scope of the housing restrictions; the second is the purchase of housing in Wuhan City, the purchase of housing in the region of the residents can add a new qualification for the purchase of homes, in the non Purchase-restricted areas have housing is not counted as a resident family home purchase qualification sets, non-city resident families in the purchase-restricted areas to buy their first home can be implemented in the home purchase qualification "commitment to do, tolerance of shortages do".

2, the qualification of the purchase

Where in Wuhan City to buy the first set of housing, outside the second ring first set of down payment for the purchase of 20% of the purchase price, within the second ring first set of down payment for the purchase of 30% of the purchase price; in Wuhan City to buy the second set of housing, outside the second ring two sets of down payment for the purchase of 30% of the purchase price, the second set of down payment for the purchase price of 40% of the purchase price; according to the relevant documents, the Wuhan City, Wuhan City, residential households have two or more sets of housing in the restricted areas of purchase in Wuhan City, the purchase of the purchase of the purchase of a home. According to the relevant documents, Wuhan resident families who already have two or more housing units in the restricted areas of Wuhan City can purchase one new housing unit (including new commercial housing and second-hand housing) in the restricted areas of Wuhan City.

3, home purchase materials

Wuhan home purchase restriction policy in 2023 has been adjusted for the materials required to handle the purchase of homes. At the time of purchase, the buyer needs to have an application form for registration of real estate transaction tax return, proof of real estate ownership, contract of sale of commercial housing, property subdivision plan, purchase invoice, buyer's identity certificate, buyer's marital status certificate, power of attorney, agent's identity certificate, buyer and family members' household registration, and buyer's family members' identity certificate.

Advantages of the purchase restriction policy

The basic purchase restriction meets the housing and investment needs of the vast majority of families, and is not in conflict with the policy of purchasing a home in some cities, and does not impede the development of the housing rental and vacation property markets. In cities such as Beijing and Shanghai, where there is a large influx of people and a relatively tight supply of land, a one-year waiting period system for outsiders can be implemented additionally, meaning that foreigners and residents outside the country must provide proof of at least one year's tax payment or social security before they can buy.

The purchase restriction is simple and easy to implement, and its implementation relies mainly on two information systems, the real estate title registration and network signing of each city's housing department, without the need for a nationwide network. The Ministry of Housing and Construction is currently promoting the construction and networking of housing information systems in 40 key cities, which is very valuable work. After the system is completed, it will be able to effectively support the introduction of multi-suite property tax and can optimize the 40 city-wide purchase restrictions.

After the long-term purchase restriction, the main force of demand will inevitably return to the middle class, and housing prices will return to income-supportable levels, so local governments can flexibly adjust supply and demand through land supply, the loosening or tightening of public provident funds, and other policies.

Reference: Baidu Encyclopedia - Purchase Restrictions