China Cities Rush to Lure Homebuyers With Sweeteners, Price Cuts
- Guangzhou offers ‘quasi-Hukou’ to select property buyers
- Multiple cities have removed price floor for developers
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Cities around China have taken steps to attract homebuyers with sweeteners and price cuts since the country’s top leadership promised to give local governments more room to set property policies at a key political meeting last month.
The southern metropolis of Guangzhou will offer access to public education for buyers of private properties in a suburban district, according to a notice posted on the local government’s website late Tuesday. That makes it the country’s first so-called tier-1 city to use the all-important “Hukou” permits to shore up flagging real estate demand, state media reported.