The rule, tightened from an existing five-year ban on resale, is one of a series of measures to make such homes more affordable.
Due to ample liquidity, property markets in Asian countries such as Singapore and Hong Kong have been driven relentlessly higher for years. As a result, governments have introduced property-cooling measures. On the other hand, Chinese government started easing restrictions such as lowering the down payment for second homebuyers to improve the real estate sector. Western countries also impose different policies against foreign property buying.