On September 14, Suzhou and Guangzhou successively adjusted their real estate policies. This is the latest example of local-level policy adjustments following the August 24 State Council Executive Meeting, which allowed local governments to flexibly implement credit and other policies under a 'one city, one policy' framework to reasonably support rigid and improved housing needs.
The Suzhou Municipal Housing and Urban-Rural Development Bureau confirmed that non-local residents purchasing their first home in the six districts of Suzhou (Wuzhong District, Wujiang District, Gusu District, Xiangcheng District, High-Tech Zone, and Industrial Park) no longer need to provide proof of social security contributions or personal income tax, but are limited to purchasing only one property. Guangzhou’s latest policy involves dynamic adjustments to the filing prices of new projects: the 'one house, one price' rule has been adjusted from an original fluctuation of plus or minus 6% based on the average building price to an upward adjustment of up to 10% and a downward adjustment of up to 20%, with the average building price not exceeding the approved project's benchmark price.
In terms of focus, Suzhou aims primarily at relaxing purchase restrictions, intending to provide more relaxed conditions for homebuyers from neighboring provinces and cities, as well as the Yangtze River Delta region, thereby stimulating demand. Guangzhou, on the other hand, focuses on easing price caps, aiming to encourage developers to set flexible prices based on market conditions, significantly broadening the upper and lower limits.Although the two locations have different priorities, both policies are aimed at activating the market and fall within the broader framework of the 'one city, one policy' initiative. This helps the real estate market stabilize further and boosts market confidence. Considering the economic scale of Suzhou and Guangzhou, especially given that Guangzhou is a traditional first-tier city, this adjustment carries significant directional importance.
Affected by various factors, the domestic real estate market has faced considerable challenges over the past year. However, it should be noted that with...