New property policies set to lift real estate market in first-tier cities

Potential homebuyers check out housing projects at a real estate agency in Beijing, June 24, 2023. [Photo/VCG]

BEIJING: Local housing authorities in some first-tier cities, including Beijing, Shenzhen and Guangzhou, will put new property policies in place, better meet people’s basic and upgraded demands for housing, promoting a stable and healthy development of the real estate market.

These announcements came after the Political Bureau of the Communist Party of China Central Committee held a meeting on July 24 to analyse the current economic situation and help boost the economy in the second half of the year.