Why does Qionghai restrict purchases and require payment for five years?

This is Qionghai’s housing purchase restriction policy.

For outsiders who want to buy a house in Qionghai, a family can only buy one house, and the down payment ratio is 70%. It cannot be transferred within five years from the date of obtaining the real estate certificate. When buying a house, you need to provide proof of personal income tax or social insurance payment for at least one family member in Hainan Province for five years or more.

If you want to buy a house in Qionghai with a foreign registered permanent residence, you will not have to pay social security or personal income tax in Hainan. You can only be qualified to buy a house in Qionghai if you introduce talents and settle in Hainan.