Another Major Chinese City Scraps Limits on Housing Purchases

What’s new: Wuhan, the capital of central China’s Hubei province, scrapped home purchase limits across the city, joining a slew of second-tier cities and following measures by the four biggest cities to lower down payment and mortgage rates for more homebuyers.

The limits, put in place in many major cities in 2010 to prevent speculation, banned residents without a local housing registration, known as “hukou,” from buying more than one unit in restricted areas.