Zhangjiagang Is Latest Chinese City to Ease Property Controls as Prices Drop
Xu Wei
DATE:  Dec 12 2019
/ SOURCE:  yicai
Zhangjiagang Is Latest Chinese City to Ease Property Controls as Prices Drop Zhangjiagang Is Latest Chinese City to Ease Property Controls as Prices Drop

(Yicai Global) Dec. 11 -- Zhangjiagang in China's eastern Jiangsu province has done away with a two-year ban on reselling property, becoming the latest major metropolis to ease regulations to counter a downturn in the real estate market.

Zhangjiagang limited the resale of real estate in August 2017 by preventing both first- and second-home buyers from selling their properties within two years of purchase. The ban has now been lifted, The Paper reported today, citing an insider at the city's property registration center, though a housing bureau official said it was still uncertain.

Prices of new properties fell in 40 cities across China last month, the largest number since February 2016, according to China Index Academy data. That prompted several cities to relax policies after years of tightening them to curb speculation.

In the past month, Shenzhen has scrapped some of its home-sales taxes, Foshan is no longer limiting real estate purchases to locals with permanent residency and Chengdu has started to allow cross-regional acquisitions by residents from certain areas.

Follow Yicai Global on
Keywords:   Zhangjiagang,Properties