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Asia

 

Chinese city backtracks on call to ease property controls

Published on Jun 25, 2014 7:47 PM
 

BEIJING (REUTERS) - A city in northern China on Wednesday appeared to rescind a decision to lift curbs on home purchases, highlighting the tension between central and regional governments over winding back controls on property.

The government in Hohhot, in the Inner Mongolia region, announced last week on its website that it would start allowing people to buy more than one home, regardless of whether they were registered as residents, popularly known as having a hukou.

The ceiling for bank mortgages offered at a preferential rate was also raised to 500,000 yuan (S$ 100,350) from 300,000 yuan earlier, the notice said.

But the online circular, which was seen by Reuters and was dated June 19, was deleted by late on Wednesday afternoon.

 
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