(Reuters) - A Chinese city has slightly loosened regulations on house buying as it looks to boost the local economy, the latest sign of the impact of a cooling in property prices on the broader economy.
House prices in China rose at double-digit rates in most cities last year, but the pace of gains have slowed since the start of the year as central government measures to rein in price gains took effect.
Residents of an economic zone near the city of Nanning in the southern Guangxi province will be given the right to buy property in the city, according to an article on the official Xinhua news agency's affiliated XinhuaNet website.
The article, citing a document from the Nanning city housing department, said residents of the zone would have the same rights to buy property as city dwellers.
An official of the housing department told Reuters that the document was minutes from a recent meeting, but could not confirm the content.
As prices cool, speculation about a relaxation of policy has swirled in some markets.
with thanks : REUTERS : LINK : for detailed news.
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