Hangzhou eases restrictions on home purchases

(Xinhua) 20:27, July 29, 2014

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Newly-built apartments are seen in Xiaoshan District, Hangzhou, capital of east China's Zhejiang Province, July 29, 2014. Hangzhou will lift the ban on buying a second home in Xiaoshan and Yuhang districts starting Tuesday, according to Hangzhou Housing Security and Management Bureau. The ban is also lifted for buyers purchasing a house more than 140 square meters in downtown areas, according to the bureau. So far, around 20 regions, mostly second- and third-tier cities where inventories are high, have lifted or eased bans on ownership of more than one home, imposed in early 2011 as a tool to cool the property market. (Xinhua/Wang Dingchang)

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