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 f

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..