Homebuyers in Shenzhen face far fewer curbs – including unlimited purchases – to give city's property market a shot in the arm

Shenzhen has lifted a number of home-purchase restrictions, allowing eligible residents to acquire an unlimited number of homes in multiple districts such as Luohu.

This makes it the third first-tier Chinese city in the past month to unveil property measures aimed at supporting a stable real estate market, following Beijing and Shanghai.

The new policy, which took effect on September 6, introduces adjustments to household eligibility, corporate purchases, and mortgage pricing.

Under the rules, Shenzhen-registered households and non-resident families who have contributed at least one year of social insurance or income tax in the city can purchase an unlimited number of homes in six of its nine districts. Non-resident families without such proof are limited to two homes in these districts.

In Yantian District and Dapeng New Area, homebuyers are no longer subject to household registration or social insurance checks, and there are no limits on the number of homes they can purchase.

To address employee housing needs, Shenzhen authorities allowed companies and public institutions to purchase residential properties within the city.

Meanwhile, authorities have updated individual mortgage rules, allowing banks to set rates based on market conditions and borrower risk, without differentiating between first- and second-home loans.

STAFF REPORTER