Zhuhai relaxes property restrictions

Zhuhai’s Doumen and Jinwan districts are said to have relaxed property purchase restrictions for first-time buyers, according to local media.

The two districts have removed barriers for buying new properties by first-time buyers while buying second-hand properties still require at least a five-year contribution to the employment-based social security fund.

According to online property platform Zhuge.com, Zhuhai saw 7,116 property transactions in Q1, up 167.12% YoY. According to online real estate information platform Guandian.com, more than half of these were transacted online.

The Zhuhai government launched cooling measures in April 2017, increasing the required number of years for social security contribution from one to five. Property must still be held for three years before being sold again.

Read more (in Chinese).