Zhoushan loosens property restrictions

Zhoushan in Zhejiang province has eased purchase restrictions in the property market by permitting all households to buy a new home this year, sources said.

The local government decided to allow families to buy one new apartment this year regardless of how many homes they already owned. It is the second city in Zhejiang province to scrap restrictions for home purchases.

The local housing regulator has confirmed the news, but there was no official announcement, the National Business Daily reported on Monday.

In August, Wenzhou eased purchase restrictions in the poperty market by permitting both residents and non-local households to buy second homes.