SHANGHAI, April 2 Mainland property stocks
soared on Wednesday after state media reported that several
cities may relax house ownership restrictions.
The CSI300 property sub index <.CSICMREI > was up 4.1
percent in morning trading, led by Hua Yuan Property Co Ltd
and Beijing Capital Development Co Ltd
which both reached their daily 10 percent trading limits.
The Shanghai securities journal reported that local
governments in Hangzhou and Changsha are planning to relax
restrictions on the number of houses home owners can purchase,
citing anonymous sources.
China's red-hot property market has lost some steam since
late 2013 as local governments tightened controls on speculative
buying, and as banks made it harder for home buyers and small
developers to get loans.
Prices of new homes in 288 major cities rose 8.1 percent in
March from a year earlier, easing from February's annual rise of
9.1 percent, a poll by real estate services firm E-House China
(Editing by Shri Navaratnam)