Authorities in two of China's largest cities have revised a long-standing policy governing residential housing development, signaling a significant change in real estate market dynamics to allow for larger families and more space.
Shenzhen, Southern China's technology hub, with a population of over 20 million, has scrapped a policy that prioritized the construction of small and medium-size housing units. This change potentially shifts the focus toward larger homes to meet the growing demand of families for more spacious living areas.
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