Chinese city Chengdu relaxes rules for property developers
Chengdu is in the southwestern province of Sichuan. Its local housing authority says:
- it'll accelerate approvals for home sales and property loans
- Will ease restrictions on using proceeds from pre-sales
Bloomberg has the report on moves by the city with a population of around 21m people.
- "Chengdu is the first city authority to call for faster property-related loans in a clear official statement," Yan Yuejin, research director at Shanghai-based E-house China Research and Development Institute, said. "We may see other initiatives to press banks on faster mortgages soon."
More at that Bloomberg link above (may be gated).