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Hohhot unties commercial property purchases curbing

2014-06-27 (chinadaily.com.cn)

A correction statement, issued by the Hohhot real estate development supervision and administration on June 26, marked the city of Hohhot, capital of North China’s Inner Mongolia autonomous region as the first in China to untie the curbing of the commercial property purchases, with an official document.

In a notification released on June 20, Hohhot had claimed to give full play to the decisive role of the market in resource allocation and to abolish the filing system of commercial properties sales plans.

From then on, there would be no need to submit proof of housing quantity queries in the procedures of signing, online signing, tax payments, getting a loan and property rights registration while purchasing a commercial property, including two housings; however, this latter remark was corrected from “including two housings” to “including second-hand housing” in the correction statement released on June 26.