Zhongshan City Lifts Homebuying Restriction

Homebuyers need not provide any housing certificates when purchasing commercial housing in Zhongshan city, a second-tier city in Southern China from Saturday, which removes the limit on the number of homes one can hold, the Beijing News reported citing Yan Yuejin, director at the E-house China Research and Development Institution. Previously, homebuyers needed to provide certificates including the number of houses purchased, records of mortgages and taxes. The relaxation will likely attract those who work in the nearby first-tier city Shenzhen, but market reaction remains to be seen with differentiated loan policies for first and second homes still in place. The move came after the State Council executive meeting on Friday urged cities to optimise housing policies further and stimulate potential demand.