Chongqing did cancel the "three no-personnel" purchase restriction policy. In fact, Chongqing business people have no restrictions on purchases. If you buy a house in full, you can buy it locally, but there are other restrictions. As early as June 28, 2020, Chongqing has officially introduced a policy of restricting three-person foreign mortgages. If there is no way to pay social security or individual tax in Chongqing for more than one year, then the bank will not issue personal housing mortgage loans and pay at least 5‰ property tax every year. Local housing prices in Chongqing are not particularly high. If you plan to buy a house or invest here, you can still do it.

Can I buy a house in the name of my parents?

Under normal circumstances, if the purchase has been restricted, you can buy a house in the name of your parents. But this requires parents to have stable jobs. There are some qualifications for buying a house. Parents should be under 60 years old, and the age plus loan period should not exceed 70 years old. Ability to repay loans on time. The credit is good, and the credit information meets the requirements of the bank. If parents have other children, buying a house in the name of parents will be risky. You need to confirm the ownership of the house in advance. Avoid some unnecessary disputes in the future.

The purchase restriction has been cancelled. Are there still restrictions on selling houses?

If the purchase restriction policy is cancelled, then selling houses will definitely not be restricted. At present, some cities in China are gradually canceling the purchase restriction policy, and some cities have also relaxed the purchase policy. In the long run, more and more cities will cancel the purchase restriction in the next few years, mainly because the real estate market in many cities is not particularly prosperous because of the epidemic, so the government also wants to stimulate the real estate market by canceling the purchase restriction.