Date
24 October 2017

Guangzhou rolls out new rules to curb home prices, paper says

The Guangzhou municipal government has rolled out six new rules to rein in the property market, including extending the existing purchase ban from one year to three, and raising the minimum down-payment requirement for second-home purchases to 70 percent of the property price, the 21st Century Business Herald reported Monday, citing sources from the Guangzhou Municipal Land Resources and Housing Administrative Bureau. The city government also aims to boost residential land supply, and has set a target of exceeding the average land supply of the past five years by 20 percent in 2013, the report said.

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