by WANG Yuhan

Shenzhen eased home purchase restrictions in core districts and raised loan limits under China's housing provident fund scheme, in a targeted move to support the property market.

The Shenzhen Housing and Construction Bureau said late on April 29 the measures took effect on April 30, covering both eligibility and financing.

In Futian, Nanshan and parts of Bao'an, eligible households can buy one additional home. Local residents can now purchase a third home, while non-local buyers with at least one year of tax or social security payments can buy a second.

Non-local residents holding a Shenzhen residence permit can buy one home in core areas without meeting tax or social security requirements.

Loan caps were raised to 700,000 yuan for individual applicants and 1.3 million yuan for joint applicants, with higher multipliers for first-home buyers and multi-child families.

The move follows a meeting of China's Politburo on April 28 calling for efforts to stabilize the property market.

The easing comes after data showed a pickup in home sales in Shenzhen since March, though demand remains uneven across districts.