Ningbo city in East China's Zhejiang province has reportedly amended it real estate policy, according to China National Radio (CNR) website.
To make the process of buying property easier, the authorities there have replaced the two-place approval process, which means that prospective buyers will now only have to get the authorization where the property is being sold instead of also seeking approval of officials based in their permanent residence.
Another change that Ningbo has reportedly introduced is allowing home owners to purchase more than?one houses in the city. Until now property buyers were restricted from buying more than?one houses, but the new policy has lifted that condition.
The amended changes are expected to give a boost to the real estate industry in the district.
"These changes will help the whole sector," CNR said quoting the Ningbo real estate industry experts.
However, according to Ningbo's housing industry association, "The current situation is complicated, as there has not been any official notification. We have only been told about it."
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