Caixin
May 04, 2022 04:54 AM
ECONOMY

Chinese Cities Push Expanding Families to Upgrade Their Housing

In March, new-home sales by value dropped 29% from a year earlier, the most since July,
In March, new-home sales by value dropped 29% from a year earlier, the most since July,

Chinese cities are rolling out policies that encourage expanding families to upgrade to bigger, nicer housing as part of official efforts to shore up the beleaguered real estate market.

During the last week of April, cities including Shenyang in north China’s Liaoning province, Dazhou in the southwestern province of Sichuan and Wuxi in Jiangsu implemented policies benefiting homebuyers with two or three children. The measures include subsidies and relaxed mortgage rules.

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