CBRC Clarifies Definition of Second-Home Buyer
Published:
2010-04-23
Individuals who already own a house, either in their own name of under that of their spouse or children, will be considered second-home buyers no matter if they have applied for a mortgage in the past or not, according to Yang Jiacai, director of the China Banking Regulatory Commission's banking supervision department. In the past, only individuals who applied for a second mortgage were considered second-home buyers.
Source
Beijing Youth Daily
Google Translation
Source
Beijing Youth Daily
Google Translation
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