Shanghai and Shenzhen to Lift Key Home Purchase Restrictions to Revive Market

The changes aim to attract buyers and stabilize China's struggling real estate sector amid economic growth efforts.

Shanghai and Shenzhen plan to remove restrictions on home purchases, allowing non-local buyers to enter the market.
The changes will scrap limits on the number of homes individuals can buy, addressing long-standing controls to curb speculation.
The easing of restrictions follows broader economic measures, including monetary stimulus and interest rate cuts, to boost confidence.
Beijing is also considering similar measures, although key districts will remain controlled.
China's real estate sector has been in crisis since mid-2021, with falling home prices and developer defaults impacting the economy.