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Beijing will prohibit owners of affordable housing from selling their houses on the open market as part of its efforts to curb the overheated property market, according to a regulation issued by the Beijing Municipal Construction Committee yesterday.

Affordable housing, which is made available to people who cannot afford real estate sold on the open market, is often sold by its owners for a huge profit, which the regulation will prevent. The government will consider buying back housing from residents who no longer want their homes, according to the regulation, which is called the Management Measures on Affordable Housing in Beijing.

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Those who buy affordable housing after the measure is put into force can only use the housing as their own residence, and would not be allowed to lease or lend out the housing to other people, otherwise they will face penalties including having their housing taken back and not being allowed to buy affordable housing for a period of five years.

But the government won't bar trading of affordable housing sold before the measure was implemented.

People who apply to buy affordable houses must be residents within Beijing's urban registration system, and more than 18 years old. Single buyers of affordable housing must be age 30 or older, according to the regulation.

Public feedback on the measure is being solicited from June 7 to June 17.

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