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Beijing’s rising rents squeeze newcomers barred from home buying

Posted on 13 March 2013

Beijing’s strictest-in-the-nation property curbs are forcing up rents for about 7.7 million residents originally from outside of the city who are blocked from buying a home. The Chinese capital requires new arrivals to wait five years before purchasing a house, while cities including Shanghai permit ownership after one year of residency.
Beijing introduced restrictions on non-locals in 2011, followed by about 40 other cities, part of a three-year, largely unsuccessful campaign by the central government to contain the growth of property prices………………………………………..Full Article: Source


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