Shanghai relaxes housing policies for non-locals

Starting from Wednesday, non-Shanghai single residents will be allowed to buy one housing (including new and second-hand) unit outside the Outer Ring Road (except Chongming Island), according to a notice on optimizing housing purchase rules in Shanghai.

Applicants should have continuously paid their social insurance or personal income tax in Shanghai for at least five years.

The notice issued on Tuesday comes amid rising housing demand from non-Shanghai residents, and offers outsiders more opportunities to settle in the metropolis.

Shanghai has gradually loosened housing policy. In September 2023, Shanghai eased its mortgage rules by allowing people to take preferential loans for first-home purchase regardless of their previous credit record.

"This new policy gives full consideration to the relatively large number of single young people in Shanghai, and their high demand for housing purchasing. This is ideal for better urban development and people's work-life balance," Yan Yuejin, research director of the Shanghai E-house China R&D Institute said.