Xi­a­men un­veils prop­erty curbs

China Daily (USA) - - BUSINESS -

Xi­a­men, where home-price gains led the na­tion last month, banned some buy­ers from pur­chas­ing homes, join­ing larger hubs in try­ing to cool soar­ing prop­erty prices. Xi­a­men, a port city in east­ern Fu­jian province, will sus­pend sell­ing homes to lo­cal buy­ers who al­ready own two res­i­dences, and will ban non-res­i­dents from buy­ing a sec­ond house, it said in aWed­nes­day state­ment on the city’s land re­sources and real es­tate man­age­ment bureau web­site. Curbs will be ef­fec­tive from Sept 5 to the end of 2017. The newly un­veiled home-pur­chase curbs ap­ply to res­i­dences smaller than 144 square me­ters in area, ac­cord­ing to the state­ment.

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