Langfang city to remove restrictions on home purchases, resales to support housing market

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The city of Langfang, North China’s Hebei province and neighbouring the capital city of Beijing, will remove restrictions on home purchases in terms of home buyers’ household registration or “Hukou” and their local social security contribution, etc, according to a notice released by the municipal government on Tuesday.

In addition, the city will remove restrictions on home resales by non-locals in key areas including the “Northern Three Counties”, referring to Sanhe city, Dachang Hui Autonomous County, and Xianghe County, as well as Xiongan New Area, according to the notice.

According to data from the China Index Academy, average new home prices in Langfang stood at 11,697 yuan per square mete in June, falling by 0.37% from the previous month, expanding by 0.15 percentage points from June, and sliding 3.42% from a year earlier. Average price of second-hand homes stood a11,991 yuan per square meter, down 0.23% from a month earlier, narrowing by 0.09 percentage point from June, and falling by 2.09% from a year ago.