GUANGZHOU has put fresh curbs on homeowners selling their homes quickly after purchasing in an attempt to cool the property market, Xinhua reported.

    Homeowners will only be able to resell a property two years after they obtain an ownership certificate, according to the new rules that go into effect Friday. These apply to both new and pre-owned homes, Xinhua said.

    The new restrictions come two weeks after the city said it would allow unmarried people and non-local residents to buy only one home in the city, and raised the minimum down payment on second homes to 50 percent.

    China’s red-hot property market has been resisting cooling measures and purchase curbs — first imposed by big cities but now adopted by smaller cities. (SD-Agencies)