Guangzhou State Firm to Buy Secondhand Homes to Support Property Market
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Under the plan, Guangzhou Anju Group Co. Ltd. will target privately owned secondhand homes located within the city’s ring expressway. Photo: VCG
Guangzhou has unveiled a plan for a state-owned housing company to buy secondhand homes directly from individual owners, extending government support for China’s struggling property market into the resale segment.
The program marks a shift from earlier measures adopted in many Chinese cities, where state-owned companies primarily purchased unsold new homes from developers. Guangzhou’s initiative will test whether public capital can help revive transactions in aging urban housing stock.
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