bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

Peggy Sito

Guangdong province is instituting a 15-point stimulus package to help its ailing property sector, a move that sharply lifted stocks in the industry yesterday.
Guangdong  is cutting taxes on home purchases  and lifting restrictions on  buyers from Hong Kong, Macau and Taiwan.  
 The provincial government  also said it would allow  developers to delay payment on land purchases made last year for as long as two years. 
It would also  allow developers to pay the land appreciation tax in instalments.
The government also encouraged local  developers that have listed abroad to sell A shares  on the domestic market.
 Developers' stocks surged yesterday, with Guangzhou R&F Properties closing up 10.83 per cent at HK$6.65.
Guangdong-based Country Garden Holdings rose 10.34 per cent to HK$1.60, and KWG Property Holding rose 15.97 per cent to HK$1.67. 
Guangzhou Investment  gained 9.38 per cent to  70 cents, while  China Overseas Land & Investment  advanced 4.63 per cent to HK$10.84.
 The measures 'show the provincial government's strong support for the real estate market',  said Adrian Chan Chihoo, a spokesman  for R&F Properties, which is awaiting  approval to list its A shares.
Home sales in the province dropped 21 per cent last year from 2007, the first decline since 2003, according to the Guangdong Real Estate Association.
Foreigners, including people from Hong Kong, Macau and Taiwan, have not been allowed to buy more than one unit since 2007.
Echo Huang Shaomei, the general manager of Sun Hung Kai Properties' south China office,  said more Hong Kong buyers  would enter the Shenzhen and Guangzhou markets after the restriction  was lifted.



Stimulus plan lifts property stocks