Seven-item notice scraps restrictions on homebuying in Hangzhou

2024-05-09 Editor : Li Yan ECNS App Download

Hangzhou, capital of East China's Zhejiang province, announced the scrapping of all restrictions on homebuying from Thursday.

All the previous requirements posed on home purchasing qualifications will be canceled on Thursday, and non-local people who have obtained residential properties can legally apply for permanent resident status in the city, said a seven-item notice published on the official website of Hangzhou's bureau of housing security and real estate management.

The decision was made to implement the central government's work deployment, fulfill the responsibilities of the city, meet rigid and rational housing requirements, and promote the stable and healthy development of Hangzhou's property market, the notice said.

The new policies also include scientifically making plans on housing development, optimizing land supply of the housing market, improving new home sales measures, strengthening support on home mortgages and promoting the supply of high-quality housing.


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