Changzhou has eased restrictions on the resale of residential property to boost demand and breathe life into the struggling property market.
Owners can now put their house on the market once they have obtained their Real Property Ownership Certificate, rather than having to wait two years after purchase.
Changzhou’s GDP per capita reached 178,243 yuan (US$25,711) in 2022, twice the average in mainland China, according to the city government’s official website.
The measure, which came into force on February 15, suggests even China’s wealthier cities are keen to boost their property markets to shore up economic growth.
Local governments have turned to supportive policies to rescue the embattled property sector since November 2022, with several dozen local governments loosening home purchase restrictions to boost sales.
In recent months, the governments of Changsha, Huizhou, and Yangzhou have also relaxed restrictions on home resales.
