Relaxation Of Property Restrictions Proposed

Multiple children families in the Fangshan district of Beijing could have property purchase restrictions relaxed, as the local government looks to implement a “one district, one policy” approach, according to proposals submitted by the Beijing Municipal Commission of Housing and Urban-Rural Development. The proposals include lowering the down payment ratio on second homes and increasing the number of houses that can be purchased, according to experts interviewed by 21st Century Herald. Authorities could implement these policies nationwide to other tier one cities, which would increase housing demand and property prices, if approved by the People’s Bank of China, according to the Herald.