Zhang Bo, Director of the 58 Anjuke Research Institute: Guangzhou is the first among first-tier cities to completely lift purchase restrictions, which is expected to unleash market demand, boost market confidence, and promote the stable and healthy development of the real estate market
The Guangzhou Municipal People's Government Office announced that starting from September 30, 2024, the city will completely lift the purchase restriction policy, allowing residents and singles to freely purchase houses across the city. Zhang Bo, director of the 58 Anjuke Research Institute, stated that this move will unleash market demand, boost market confidence, and promote the stable and healthy development of the real estate market. As the first first-tier city to fully lift the purchase restriction, Guangzhou's policy adjustment has significant demonstration significance, and is expected to stimulate housing demand and increase transaction volume
Tonight, the General Office of the Guangzhou Municipal People's Government issued a notice regarding the adjustment of measures for the stable and healthy development of the real estate market. The notice clearly states the cancellation of various restrictions on home purchases by resident families in the city, with the policy officially taking effect on September 30, 2024. Following this adjustment, resident households, non-resident households, and singles in the city will no longer be subject to qualification review or restrictions on the number of homes purchased throughout the city.
Zhang Bo, Director of the 58 Anjuke Research Institute, interpreted this as Guangzhou being the first first-tier city to completely lift home purchase restrictions. This policy adjustment is expected to unleash market demand, boost market confidence, and promote the stable and healthy development of the real estate market. Guangzhou's comprehensive relaxation of home purchase restrictions is also a specific action following the Central Political Bureau meeting on September 26 to promote the stabilization and adjustment of the real estate market.
Zhang Bo pointed out that Guangzhou, as a first-tier city, has a significant symbolic meaning in this policy adjustment. The relaxation of home purchase restrictions is expected to stimulate housing demand and boost market confidence. While cities including Shanghai and Shenzhen have not completely lifted restrictions, it also indicates that under the backdrop of the "dual-track system," the comprehensive removal of home purchase restrictions in the property market will be a major trend.
"The cancellation of purchase restrictions is more conducive to diversified demand for home improvements to enter the market. Guangzhou, being at the core of the Greater Bay Area and an important development belt in the Guangzhou-Foshan integration economy, has strong appeal to external populations. Coupled with the wide range of housing prices in Guangzhou itself, it is more conducive for newcomers to settle here. It is expected that this move will drive an increase in Guangzhou's property transaction volume in October." Zhang Bo stated