Media365
Those holding a valid residence permit can buy one residential unit in Futian and Nanshan districts, and Xinan in Baoan district, without having to pay social security or individual tax for a year. The rules came into effect on Thursday.
The authority also raised the housing provident fund loan caps to a maximum of 700,000 yuan (US$102,378) for individuals and 1.3 million yuan for joint applicants.
For first-time homebuyers, the loan eligibility was increased to up to 60 per cent of the property price; families with one child could get a loan of 50 per cent of the property price, and families with at least two children could obtain a loan of 70 per cent of the property value, the authority said.
Shenzhen, however, is tipped to turn around faster than other top-tier Chinese cities.
