China property stocks rally after major cities ease homebuying restrictions [CNBC]
CHINA OVERSEAS L&I UN/ADR (CAOVY)
NASDAQ:AMEX Investor Relations:
coli.com.hk/en/ir
Company Research
Source: CNBC
The Shanghai government lowered the required tax-paying period for migrant workers to buy homes in non-central areas. Shenzhen's government also relaxed purchasing restrictions — which had capped local families to two homes and single individuals to one — allowing buyers to purchase one more apartment in certain districts. Shares of Chinese property developers rallied on Monday after major cities in mainland China unveiled easing measures to boost homebuyer sentiment, following the central bank's blitz of policy stimulus. The Guangzhou city government said in a notice on Sunday that all restrictions on home purchases would be removed, effective from Monday. Previously, migrant families were required to pay taxes or social insurance for at least six months in order to purchase up to two homes, while single individuals were limited to one apartment. The Shanghai government also lowered the required tax-paying period to one year from three years. The city also lowered the down-p
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