China Homebuyer Easing Gains Momentum as Big Cities Scrap Curbs
- Hangzhou, Xi’an removing all restrictions on home purchases
- Sends strong signal and other cities may follow, analysts say
Residential buildings under construction in Hangzhou.
Photographer: AFP/Getty Images
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China’s efforts to revive homebuyer demand gathered steam on Thursday when two major cities scrapped all their remaining curbs on residential property purchases, a move that more local governments are expected to follow.
Developer stocks surged after Hangzhou, the capital of eastern Zhejiang province, said it will remove eight-year-old restrictions on residential property purchases and no longer review the qualifications of homebuyers. Xi’an, the capital of Shaanxi province, announced similar steps hours later.