Easing purchasing limits to propel realty market

Steady growth: People at a theme park in Guangzhou. The property market in the city is expected to gradually stabilise in the remaining months of the year. — AFP

GUANGZHOU: The latest adjustments to the home-purchasing restrictions policy and value-added tax exemption period in Guangzhou, Guangdong province, will better support local people in addressing housing issues.

It will be done through market-oriented methods and promote the recovery and development of the residential property market, local authorities and industry insiders say.According to a notice issued by the local government, residents with local household registrations, or hukou, in the city’s districts of Yuexiu, Haizhu, Liwan, Tianhe, Nansha and some areas in Baiyun district, can only purchase a maximum of two residential properties.