East China City Scraps Homebuying Restrictions as Easing Gains Pace

(Bloomberg) — Hangzhou, a major city in eastern China, removed all of its remaining homebuying curbs in the latest example of a local government pursuing aggressive easing to end the property crisis.

The capital of Zhejiang province will remove all restrictions on residential property purchases and no longer review the qualifications of homebuyers, a statement on the local government’s website showed Thursday. Removing the restrictions placed in 2016 will enable the “stable and healthy development” of the real estate market, it said.