Shanghai, China's powerhouse for manufacturing and finance, on Wednesday lift some purchase restrictions in a bid to boost the market.
Multiple municipal agenices, including the Municipal Housing and Urban-Rural Development Management Committee, the Municipal Housing Administration Bureau, the Municipal Finance Bureau, the Municipal Taxation Bureau, and the Municipal Housing Provident Fund Management Center, jointly issued the "Notice on Further Optimizing and Adjusting the City's Real Estate Policies", which will take effect on February 26, 2026.
The new policy is aimed to further adjust housing purchase restrictions in an effort to promote livable housing and meet residents' reasonable housing needs. The notice clarifies further reductions in housing purchase restrictions.
For example, the required duration of social insurance or individual income tax payments for non-local residents purchasing housing within the outer ring will be shortened. For households or single individuals without local residency purchasing housing within the outer ring, the requirement for continuous payment of social insurance or individual income tax will be adjusted to a minimum of 1 year prior to the purchase date.
Eligible non-local residents can purchase an additional housing unit within the outer ring, according to the notice. Households or single individuals without local residency who have paid social insurance or individual income tax for three years or more in this city may, in addition to the existing housing purchase restrictions, buy one more unit within the outer ring.
Eligible holders of the "Shanghai Residence Permit" can purchase housing within the city. Households or single individuals without local residency who have held the "Shanghai Residence Permit" for 5 years or more may purchase one unit in the city without needing to provide proof of social insurance or individual income tax payments.
According to the above regulations, non-local resident households or single individuals who have continuously paid social insurance or individual income tax for one year or more prior to the purchase date may purchase an unlimited number of housing units outside the outer ring, and are limited to one unit within the outer ring; those who have continuously paid social insurance or individual income tax for three years or more may purchase up to two units within the outer ring. Holders of the "Shanghai Residence Permit" for five years or more are limited to one housing unit purchase across the city.
Explore more exclusive insights at nextfin.ai.
