China's Shenzhen further eases homebuying curbs

Shenzhen, one of China’s four first-tier cities, further relaxed restrictions for buying homes in the city in a bid to spur demand.

Eligible households will be able to buy an additional home in some central areas of Shenzhen, according to measures released by local housing authorities on Wednesday.

Some buyers will be able to take out more mortgages under the country’s housing provident fund programme.

The measures, effective from Thursday, are aimed at better meeting residents’ homebuying needs and supporting the stable and healthy development of the real estate market, authorities said.

China’s property market is stuck in a years-long slump, but home price data in March showed some improvement in major cities.

Reuters

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