Beijing bars single people from buying 2nd house
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E-mail CNTV, March 31, 2013
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Single people will not be allowed to buy a second house in Beijing starting from Sunday.
The new policy comes after a spate of "fake divorces" since February, when the government announced a 20 percent tax on profits from the resale of housing less than five years after the original purchase.
The new policy also raises the mortgage down payment on a second apartment to 70% of the full value. Shanghai has also published new house policies it has announced no concrete measures to restrict the housing market.
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