Policies and promotions drive realty sales in Pingshan

Visitors at a real estate sales booth in Pingshan District. Photos from Pingshan Media Center

Fueled by the latest favorable policies in Shenzhen and holiday promotions, Pingshan’s residential real estate market experienced a surge in inquiries, viewings, and transactions during the National Day holiday.

"During the seven-day holiday, foot traffic to our apartment project and the number of deals saw a significant increase compared to the same period last year," said a salesperson at the Tagen Heyuefu residential project. "The number of transactions was also higher than in the past two months."

On Sept. 29, Shenzhen introduced a series of policies aimed at revitalizing the stagnant property market. These included relaxed purchase restrictions for permanent residents and non-residents, reduced taxes and transaction fees, and lower down payment ratios. Additional preferential policies were also introduced for families with two or more underage children and those looking to buy properties in suburban areas.

During the holiday, Pingshan implemented various promotions, advertising on Metro trains, at downtown office buildings, shopping malls, and tourist spots. "With so many favorable policies in place, I believe it's the right time for me to buy an apartment. Additionally, living and transportation conditions in Pingshan have improved in recent years, which influenced my decision to purchase here," said a man surnamed Zhang.

Visitors at a real estate sales booth in Pingshan District. 

According to the Shenzhen Municipal Housing and Construction Bureau, expats can purchase one apartment for personal use if they can provide proof of working on the Chinese mainland for more than one year.

Documents needed:

A valid passport and work permit for more than one year.

If the work permit is less than one year, applicants must provide a hiring contract for more than one year, along with evidence of paying personal income taxes for at least one year. Employment contract durations can be cumulative.

Holders of Five Star Cards (permanent residence ID cards) are not required to provide proof of years worked on the Chinese mainland.

Choosing an apartment:

Expats can browse new apartment listings on the Shenzhen Municipal Housing and Construction Bureau's website ( https://zjj.sz.gov.cn/ ). Click on "房源信息查询" and select "坪山" to view new apartment projects in the district. Each project includes information about the developing company, the property management company, the project’s address, and a sales phone number for potential buyers to contact. Please follow the purchasing procedures provided by the apartment sales representatives.

For those interested in purchasing second-hand apartments, they can visit a real estate agency office and follow the buying procedures provided by the agency.