Chengdu Relaxes Homebuying Rule to Revive Sales

(Bloomberg) — Chengdu, a major city in the southwest China, removed homebuying curbs, joining dozens of peers in the country in an attempt to revive real estate demand and boost economic growth.

The capital city of Sichuan province will no longer review whether home buyers are qualified to purchase real estate starting from April 29, according to a statement from the housing authority on Sunday. The authorities in the 20-million resident city will also work to meet the reasonable financing needs of all types of property companies, said an announcement posted on the local regulator’s official WeChat account.