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Sichuan Scraps all Home Purchase Caps

  This undated photo shows how a typical 70 square-meter apartment looks like. [Photo: baidu]

  The provincial government in Sichuan is eliminating all its existing home purchase restrictions.

  Among the rules being scrapped include a long-standing cap on home sizes.

  Authorities in the western Chinese province have been limiting the size of residential developments to keep apartment sizes between 70 to 90 square meters each.

  This has created a glut of homes of this size on the market.

  The elimination of size restrictions is expected to unleash new demand for bigger homes.

  At the same time, developers in Sichuan are being encouraged to put more pre-furnished homes on the market, a trend which has been gaining increasing popularity in China's first-tier cities.

  Traditionally new homes in China are sold as shells, which the owner then pays to have renovated.

 
Date:2015-01-23 09:43     
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