Guangzhou held a press conference on a series of supporting documents for the "Implementation Opinions on Further Promoting the Stable and Healthy Development of the Real Estate Market".

Qian Zhe, Deputy Party Secretary and General Manager of Guangzhou Anju Group, introduced that the Group will immediately launch a pilot program to support residents in "selling old homes to buy new ones", in order to support residents in improving their housing conditions and to smooth the replacement chain between primary and secondary housing markets.

The pilot period will run until 31 December 2026. Under the principles of "government guidance, market operation and voluntary participation", the group will purchase second-hand residential units in a market-oriented manner.

The pilot acquisition targets second-hand residential units located within the Guangzhou Ring Expressway, with a total price of no more than RMB3 million and a GFA of less than 70 square meters. There is no restriction on building age.

Acquisition prices will reference market transaction prices and adopt a "two appraisals plus negotiated confirmation" mechanism. Through an initial valuation and a review appraisal conducted by third-party professional institutions, the purchase price will be determined through consultation with homeowners to ensure fairness and reasonableness.

Acquired units will be prioritized for use as affordable housing and talent apartments, mainly serving the housing needs of new urban residents and young people, as well as residents relocated under urban renewal projects.

AASTOCKS Financial News