Guangzhou city, South China's Guangdong Province, announced that the purchase of residential properties with a floor area of 120 square meters or more will no longer be subject to the government's purchase restriction measures, making the city the first among the first-tier megacities to partially lift the restriction on property purchases.
The new policy in Guangzhou will not discriminate any buyers no matter they are local residents, individuals or households provided they buy residential properties with a floor area of 120 square meters or more, including both newly built and second-hand homes.
Additionally, existing residential properties with a floor area of 120 square meters or more, owned by individuals, will not be counted when calculating the number of properties owned in the city.
