Guangzhou First To Ease Purchase Limit On Large Homes

Guangzhou city, one of the top four cities in China, has fully relaxed home purchase limits for buyers with local residency. Properties with a floor area of more than 120 sqm are excluded from housing purchase restrictions, according to a notice from the city government on Saturday. For those without local residency, they still need to meet the threshold of providing two-year payment of social security in the city to buy a floor area of less than 120 sqm. Other first-tier cities may follow suit as local authorities attach greater importance to property market stability in the near term, but the downward pressure has not changed significantly since the beginning of 2024, said Li Yujia, chief research fellow at the Guangdong Urban & Rural Planning and Design Institute. (Source: 21st Century Business Herald)