Cities across China step up support for property purchases by multi-child families
Published: Mar 14, 2023 09:58 PM
Cranes are seen at a construction site of a housing complex in Beijing. Photo: VCG

Cranes are seen at a construction site of a housing complex in Beijing. Photo: VCG

Multiple cities across China have recently stepped up support for property purchases by families with two to three children, with the latest supporting measures coming in Jiuquan in Northwest China's Gansu Province, which will offer a one-time subsidy worth 100,000 yuan ($14,550.11) for qualified families with three children. 

Jiuquan recently issued 13 measures to promote the healthy and steady development of the local real estate industry, including a one-time housing subsidy of 50,000 yuan for qualified households with two children, and a subsidy of 100,000 yuan for families with three children, local newspaper Jiuquan Daily reported on Tuesday.  

The report added that the subsidy will be allocated in the form of a one-time monetary payment based on the locations. 

On March 3, Xiamen in Southeast China's Fujian Province announced that local qualified families that have more than two children can purchase a third property, local newspaper Xiamen Daily reported.  

Rui'an in Wenzhou, East China's Zhejiang Province announced on March 1 that qualified local households with two to three children can get purchase subsidies, with families of three children getting a maximum subsidy of 1.2 percent of the purchasing prices, the reported.  

Multiple cities across China including Hefei, Suqian, Yangzhou and Shenyang have also issued targeted policies recently to support property purchases by multi-child families, domestic financial news outlet Securities Times reported.  

Chen Wenjing, director of market research at the China Index Academy, said that support for the housing needs of multi-child families will increase in 2023, and subsequent policies such as increasing the number of home purchase quotas for the families and lowering the down payment ratio are expected to be promoted in more major cities, per the report from the Securities Times.