Guangzhou to tweak ‘hukou’ residency system in major drive to revive home sales

Quick Summary:

The capital of southern Guangdong province is saddled with 13.2 million square metres of unsold homes, which will require 22 months to clear.

New home sales in the first 10 months generated by top 30 developers in Guangzhou strank by 13 per cent from one year earlier, according to China Real Estate Information Corp, mirroring the slump in nationwide housing sales.The city has 13.2 million square metres of unsold inventory, according to China Index Academy, which may take 22 months to clear based on current demand, it estimated.

The capital of southern Guangdong province is saddled with 13.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong KongChina

Topics: Months China Residency City Demand Local Sales Hukou Guangzhou Housing According

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 16:30:17 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 43 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23693075

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