Wuhan Eases Key Home-Buying Ban to Arrest China Housing Slump

(Bloomberg) ― A major city in China has eased a key restriction on housing purchases, paving the way for more cities to follow suit and prop up demand as the property slump in the world’s second-biggest economy drags on.

Wuhan, China’s eighth-most populous city, will allow local families to buy an additional home in areas with purchasing caps, according to a local government statement. The city in central China, where Covid-19 cases first emerged more than three years ago, supports “reasonable” home purchases, according to the statement.