Tianjin may stop offering permanent residency under the “hukou” household registration system to new homebuyers from March, the China Securities Journal reported Friday. The move may trigger a 40 percent drop in new home transaction volume for Tianjin’s suburban property projects because people working in Beijing account for a large proportion of the buyers, the report said. In view of the high property prices and high “hukou” threshold in Beijing, many of those working in the capital city prefer to live in suburban Tianjin, which is just half an hour’s ride from southern Beijing. In Tianjin’s Wuqing district alone, more than 10,000 people acquire “hukou” permits every year by buying homes worth more than 400,000 yuan (US$65,061) in the area, a local district housing official was quoted as saying. A new hukou policy will be adopted from March, although the details are not yet clear, the report said.
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