Shenzhen will ease homebuying curbs in prime districts and raise housing
provident fund loan caps to support the prolonged property slump. From April 30,
non-local households with residence permits can buy one commercial home in
Futian, Nanshan and Xin’an (Bao’an) without prior tax or social security
requirements. Loan caps rise to 700,000 yuan for individuals and 1.3 million
yuan for joint applicants, with increases of up to 60% for first homes, 50% for
one-child households and 70% for larger families. The downturn, now over four
years, continues to strain developers such as China Vanke Co..
