3 cities impose curbs on home purchases

Three Chinese cities have launched policies to stop companies from buying residential property, and experts predict other cities will adopt similar measures soon.

Xi'an in Shaanxi province, Changsha in Hunan province and Hangzhou in Zhejiang province halted housing purchases by companies in designated areas on June 24, 25 and 26 respectively. Other cities including Beijing have launched restrictive policies on companies previously, but this is the first time local authorities have officially put a stop to such trade.

"The large amounts of capital brought by companies and institutions are causing market panic, it has been a loophole in the country's housing policy," said Xie Yifeng, a real estate columnist and commentator.