Date
18 October 2017
Homebuyers no longer need to show property records to buy a home in Haikou. Photo: Bloomberg
Homebuyers no longer need to show property records to buy a home in Haikou. Photo: Bloomberg

Haikou joins flood of cities easing property curbs

The Hainan capital of Haikou has joined a dozen mainland cities in relaxing limits on home purchases as fears mount of a looming property crash, the 21st Century Business Herald reported Wednesday.

City regulators have told various property developers in Haikou that purchase limits have been scrapped and homebuyers no longer need to provide their home ownership records, the report said.

The authorities also told the industry to step up monitoring of the property market to prevent speculation and ward off dramatic price rises, the report said.

Other major cities including Suzhou and Guangzhou are also planning to ease similar restrictions in some parts of their administrative regions, according to media reports.

Suzhou Industrial Park has already revoked purchase restrictions for flats bigger than 90 square meters, state broadcaster China Central Television said on its weibo account Monday. The report was confirmed by the head of the Suzhou housing authority.

Nansha district in Guangzhou is also applying for an across-the-board easing of the home purchase curbs, according to Deng Zhihao, chief analyst at Guangdong-based developer Fineland Property. But district housing officials said they have not been notified of a change.

Nansha district has biggest backlog of housing in the city, with as many as 40 months of inventory. Deng said the district authorities are keen to reduce the backlog and lure more skilled workers to the new area.

So far, 29 mainland cities, most of them second- and third-tier centers, have announced property easing measures in various forms, according to data compiled by the Securities Times.

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JZ/MY/SK

Freelance journalist

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