China expands house-buying limits to smaller cities

08:21, January 24, 2011      

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China is expanding the list of places where households will be limited to buying two properties.

Sixteen major cities, including Shanghai, Beijing and Shenzhen, have announced the policy and more cities in second and third tier cities will follow suit.

These would include places such as Zhengzhou in Henan Province, Kunming in Yunnan Province and some cities in the Guangxi Zhuang Autonomous Region and Shaanxi Province, China Time reported.

The cost of property in second and third tier cities has been pushing up the nationwide average home price.

Source: Shanghai Daily
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