May 11, 2019 / 12:24 PM / 8 days ago

China's Suzhou rolls out property tightening measures in parts of the city

SHANGHAI (Reuters) - China’s eastern city of Suzhou will implement new property restrictions that restrict buyers of new houses in parts of the city from selling their property within three years, the local government said in a statement on Saturday.

The parts of the city which the new rules will apply to include the Suzhou Industrial Park area, it said, adding that purchasers of homes which are not newly-built in parts of the city will only be allowed to sell their homes after five years.

Reporting by Brenda Goh and Luoyan Liu; Editing by Alexandra Hudson

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