Authorities eased restrictions to encourage home sales amid persistent real estate downturn.
A man walks into an office building next to the site of new skyscrapers under construction in the Central Business District in Beijing on Nov. 29, 2024. Kevin Frayer/Getty Images
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Beijing has lifted a long-standing cap on the number of suburban homes that city residents can purchase, a move aimed at stimulating sales in China’s struggling real estate market.
The change, effective Aug. 9, was announced on Aug. 8 by Beijing’s Municipal Commission of Housing and Urban-Rural Development and the Housing Fund Management Center.
