Guangzhou, 9 Sep (ZXS) -- On 20 September, the General Office of the Guangzhou Municipal People's Government issued the "Notice of the General Office of the Guangzhou Municipal People's Government on Optimizing the Policies for the Steady and Healthy Development of the Real Estate Market in our City" (hereinafter referred to as the "Circular"), proposing to optimize the number of years of housing purchase restrictions and value-added tax exemptions.

The "Circular" proposes to optimize the housing purchase restriction and value-added tax exemption period, and adjust the housing purchase restriction policy in Guangzhou to limit the purchase of housing in Yuexiu, Haizhu, Liwan, Tianhe, Baiyun (excluding Jianggao Town, Taihe Town, Renhe Town, Zhongluotan Town), Nansha and other districts, and the household registration household registration of the city is limited to 2 houses; If a non-resident household registration in the city can provide a certificate of continuous payment of individual income tax or social insurance in the city for 2 years before the date of purchase, the purchase of one house is limited.

The period of VAT exemption for individual sales of housing in Yuexiu, Haizhu, Liwan, Tianhe, Baiyun, Huangpu, Panyu, Nansha, Zengcheng and other districts will be adjusted from 5 years to 2 years.

The Notice also proposes to increase the construction and supply of affordable housing, and vigorously accelerate the development of public rental housing, affordable rental housing and affordable housing for allotment. Improve the level of public rental housing security, and improve the way of public rental housing security for households with household registration; Support the active participation of all types of market entities, and raise funds for the construction of affordable rental housing through multiple entities and channels; Establish and improve the affordable housing system for allotment, and carry out planning and construction in a prudent and orderly manner.

Guangzhou Housing and Urban-Rural Development Bureau said that the current real estate market is facing a new situation of major changes in the relationship between supply and demand, and some of the regulatory measures previously introduced under the condition of market overheating have limited reasonable housing consumption demand to a certain extent under the new situation. Adjusting and optimizing the purchase restriction policy is conducive to releasing rigid and improved housing demand and better supporting residents to solve housing problems through market-oriented methods.

The bureau also said that the adjustment and optimization of the purchase restriction policy is mainly aimed at the peripheral areas of Guangzhou, and the central urban areas (Yuexiu, Haizhu, Liwan, Tianhe) and Nansha District still implement stricter purchase restriction measures. Adjusting the VAT exemption period is conducive to reducing the transaction cost of second-hand housing and accelerating the recovery and development of the stock housing market. The policy adjustment will take effect from September 2023, 9. (End)