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Housing Minister Urges More Efforts To Stabilise Real Estate

CHINA PRESS
MNI (Singapore)

Local governments should further implement policies to support housing demand, such as reducing the down-payment ratio and loan interest rate for the purchase of first homes, tax relief for housing replacement, as well as relaxing loan restrictions, said the Minister of Housing and Urban-Rural Development Ni Hong in a recent meeting with property developers and builders. Ni called for homebuyers who have a mortgage history, but do not own property to be considered as first-time buyers. The ministry said the construction and real-estate industry represent two pillars of the economy and key to the economic recovery. (Source: Xinhua)

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