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Jinan lifts curbs on home buys
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THE Shandong provincial capital of Jinan yesterday became the latest area to lift home buying curbs and bring some relief to the property market.
Jinan did not release a circular, but staff and real estate agencies confirm the change.
“As long as you have enough money, you can buy as many apartments as you wish,” real estate agent Zhang Di told Xinhua.
Over the past couple of months, more than 10 cities nationwide have lifted or eased bans on ownership of more than one home, imposed in early 2011 to cool the market. At that time, more than 40 cities made use of the limits along with other measures, including higher mortgage rates and bigger downpayments on second homes. Three years ago, high home prices were among the top complaints of urban residents.
Xu Chuanming, marketing director of Hopefluent Group Holdings Ltd (Shandong), said a cooling real estate market hurts economic growth and fiscal revenue.
“It’s quite natural for local authorities to lift the limits to help the property market,” said Xu.
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