Nanjing scraps home purchase curbs
Mainland city is the latest of many to roll back cooling measures, and plans to help first-time buyers get on housing ladder with loan support
Nanjing has become the latest mainland city to remove property curbs in a move to boost the struggling market, but the rights issue offering of Agile Property Holdings has led to a fall in mainland property shares.
The Nanjing city government announced the removal of the measures on Sunday as it declared it would provide lending support to meet growing demand from first-time home buyers.
In the circular, the city government set the target for annual land supply to at least 500 hectares to stabilise the market.
Nanjing's decision leaves just six cities out of the 47 that have yet to ease the curbs put in place by the government to cool the once-hot property market. The cities are Beijing, Shanghai, Guangzhou, Shenzhen, Zhuhai and Sanya.
Home prices in Nanjing fell 0.6 per cent month on month in June, ending a 24-month streak when prices rose in the city. Prices again fell 1.1 per cent in July and 1.3 per cent in August, according to the .
