China Harbin City Ends Home Purchase Ban to Boost Sales: Daily

China's northeastern city Harbin, the capital of Heilongjiang province, said on Wednesday it plans to end restrictions on new home purchases imposed since 2018, the Securities Daily reported citing the city. As Harin became the first so-called tier-2 city in the country to scrap real estate bans, more cities with sluggish property sales may follow its lead with further measures to revive the market, the newspaper said citing Zhang Dawei, chief analyst of Centaline Property. Still, the impact of ending home purchase curbs may be limited as buyers' desire for buying new homes remains low, the newspaper said citing Meng Xinzheng, analyst of China Index Academy. The price of new homes in Harbin has fallen for seven consecutive months since August 2021, the newspaper said.