Shenzhen eased homebuying restrictions for some non-local residents and raised housing provident fund loan caps on Thursday. [1]
The city said non-local residents with valid residence permits can buy one residential unit in Futian, Nanshan and Xinan in Baoan district without paying social security or individual tax for one year. [1]
Shenzhen also lifted the housing provident fund loan cap to 700,000 yuan for individual borrowers and 1.3 million yuan for joint applicants. [1]
For first-time homebuyers, the authority raised loan eligibility to as much as 60% of the property price. Families with one child can borrow up to 50% of the property price, while families with at least two children can get loans covering up to 70% of the property value. [1]
The changes took effect on Thursday. [1]
