Foshan eases home-buying curbs

Foshan has eased its restrictive policies on home-buying. Since Friday last week, first-time home-buyers who work in Foshan and hold a bachelor degree or above, will no longer be required to submit a pile of local documents such as tax receipts, social security payment proof, etc, in order to register for buying an apartment in the city. 

In other words: anyone already employed in Foshan, with a university degree, is welcome to buy a home, anywhere in the city.

Other major cities in China are experimenting with the new policy, such as Chengdu, Shanghai, and Nanjing, but only in selected districts, not the entire city. Sanya, in Hainan, has also adopted the reform.

According to a local official quoted by media, there are “quite a few” residents who meet the new threshold, and it is expected to stimulate the market. 

Read more (in Chinese).

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