Update | No peak in sight: Guangzhou home prices to keep rising in 2017, analysts say

It’s almost impossible to walk through the streets of Guangzhou and not notice the megacity’s red-hot property market.

China’s third-largest city, with 13 million residents, is choking with tower blocks, comprising apartment complexes, malls, offices and billboards for these buildings.

“It’s non-stop construction here,” said Cindy Chen, sales manager at real estate consulting service Maxview Realty.

Property prices in China’s major cities have risen by as much as 25 per cent this year, prompting the country’s wealthiest real estate man Wang Jianlin to warn that the country is on the verge of witnessing the economy’s “biggest bubble in history.”

To tame surging prices, and avoid housing affordability from spilling over to becoming a social issue or from contributing to inflation, the Chinese government imposed policies in September and October in the country’s biggest cities to deter speculation.

In Guangzhou, not much has changed, though city authorities vowed to enforce existing regulations, such as limiting residents to two properties per household, while non-residents are capped at one home per household.