THE per capita dwelling space in Guangzhou has increased by three sqm within five years. And 90 percent of the city’s home-buyers are individuals.

　The per capita living space in 1997 was 10.79 sqm.

　This increased to 13.36 sqm last year.

　Many people are buying homes as an investment. Since Guangzhou’s per capita GDP topped US$4,000 as early as 1999, buying suburban homes has become a trend, with the convenience of expressways and the subway.The home-buying preferences of the average Guangzhou citizen have changed over the past 20 years. While previously they preferred living within a half hour’s bicycle ride from their work, now they want to live an hour’s car drive away.Home prices in the Guangzhou market range between 2,900 yuan and 4,800 yuan per sqm. People are able to choose new homes on the basis of their financial capabilities. In addition, the city government, along with other cities, has provided welfare housing for impoverished families.

　　A family of three, for instance, has a 30-square-meter house and needs to pay only 30 yuan a month. Thriving home moving companies are growing as the real estate business prospers. The reformed housing system has seen a number of changes such as subsidies from the State and access to mortgages, which are helping the real estate market grow with many people now owning more than one apartment.In another development, statistics show that sales of second-hand homes for the first half year increased by more than 30 percent over the same period last year.(Wu Yan)