Shanghai declares 1-family, 1-home limit
Authorities in China's largest city have ordered that families be allowed to only purchase one home each, part of a series of moves aimed at cooling surging property prices. The new rule for Shanghai, a city of more than 20 million, took effect on October 7. China's capital, Beijing, imposed a similar one home per family restriction in April. The tightening measures come on the back of consistently high property prices that have kept many home buyers away from the realty market.
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