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Some Chinese Cities Move To Relax Home Purchase Limits: Journal

CHINA PRESS
MNI (Singapore)

Chinese cities including Nanjing and Dongguan moved to relax home purchase limits on families with multiple children to buy one more home, and more cities are expected to follow suit, the China Securities Journal reported. Some cities are providing preferential mortgage rates as low as first-time buyers for these families, while some cities are subsidising such buyers as high as CNY20,000 for a single household, the newspaper said. The property market is expected to gradually pick up with major cities such as Guangzhou, Shenzhou, Suzhou and Wuhan having strong market demand, the newspaper said.

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