Guangzhou 's new policies are expected to boost property sales and stabilise housing prices. SINGAPORE: She had been searching for a new home in Guangzhou for her newlywed son for the last five months.
Her focus is now on which house to pick from among three properties between 145 and 190 square metres – one further from the central business district, or one closer to a metro station and a foreign language school, which would benefit her son when he starts a family. Non-Guangzhou residents may now buy two homes in six districts if they have paid social insurance or income tax in the city for at least six months, down from the previous requirement of two years.
Shenzhen, meanwhile, on Wednesday reduced downpayment requirements by 10 percentage points to a minimum of 20 per cent for first-time buyers, and 30 per cent for second-home buyers. According to state media outlet CCTV, China’s May 17 measures are already having tangible effects, with more people viewing real estate projects now that they can afford lower downpayments.China says it will improve home sales in 'forceful', 'orderly' way
Source: Real Estate Daily Report (realestatedailyreport.net)
Property Guangzhou
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