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Xiamen unveils property curbs

Xiamen, where home-price gains led the nation last month, banned some buyers from purchasing homes, joining larger hubs in trying to cool soaring property prices. Xiamen, a port city in eastern Fujian province, will suspend selling homes to local buyers who already own two residences, and will ban non-residents from buying a second house, it said in a Wednesday statement on the city's land resources and real estate management bureau website. Curbs will be effective from Sept 5 to the end of 2017. The newly unveiled home-purchase curbs apply to residences smaller than 144 square meters in area, according to the statement.

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