Reported about 1 year ago
As of June 9, 2024, to boost the real estate market, the Chinese central government released new policies such as lowering down payment ratios, cancelling the lower limit on mortgage interest rates, and reducing housing provident fund rates. Following this, the major cities of Beijing, Shanghai, Guangzhou, and Shenzhen successively announced adjustments to loan rates, leading to a noticeable revival in Guangzhou's real estate market. The volume of new home transactions increased by nearly 40%, while second-hand home signings hit a new high in four months. The '528 New Policy' in Guangzhou has revitalized both the new and second-hand housing markets, with a surge in transaction volume and listings, demonstrating positive market activity.
Source: YAHOO