China's Major Cities Ease Homebuying Restrictions Amid Property Slump
Shanghai, Guangzhou, and Shenzhen implement new policies to boost the housing market, including lower down payments and relaxed purchase qualifications.
- Shanghai will allow non-residents to buy homes after one year of social security or tax payments, down from three years previously.
- Guangzhou has removed all restrictions on home purchases, no longer reviewing buyer qualifications or limiting the number of homes owned.
- Shenzhen has eased restrictions, allowing buyers to purchase one additional property in certain districts.
- China's central bank has ordered financial institutions to lower mortgage rates on existing loans and refinance mortgages starting November 1.
- The property market downturn has led to a slight uptick in new home prices, with a 0.14% increase in September, although overall demand remains weak.
Markets Insider 
CNA 
CNBC 
South China Morning Post 
SHINE 
Hindustan Times 
