Following Shanghai, Guangzhou State-Owned Enterprises to Pilot Purchasing Second-Hand Homes for Social Housing

Central News Agency, Shanghai, May 26. Guangdong Province's Guangzhou City has recently introduced several policies to stimulate the real estate market. Following Shanghai, it will pilot the purchase of second-hand homes to be used as social housing, while also relaxing loan conditions to reduce home-buying costs. At a press conference, Qian Zhe, General Manager of Guangzhou Anju Group, stated that the group will purchase second-hand homes in a market-oriented manner. The criteria include a total price under 3 million RMB (approx. 13.88 million NTD) and a floor area under 70 square meters, located within the city's ring expressway. Residents must purchase a new home within Guangzhou's administrative area within 180 days of the transaction. The pilot program will run until December 31, 2026. Additionally, the policy optimizes the 'commercial-to-provident fund' loan conversion, allowing eligible commercial loans to be converted into combined loans. Analysts note that this measure helps digest existing second-hand inventory and effectively drives the destocking of the new home market, fostering a virtuous cycle.