Purchasing limits eased to propel realty market

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 through market-oriented methods and promote the recovery and development of the residential property market, local authorities and industry insiders said.

According to a notice issued by the local government on Wednesday evening, 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.

Non-locals who can provide proof of having paid individual income taxes or social insurance continuously for the past two years in Guangzhou are limited to buying just one residential property.