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Measures Taken To Boost Property Demand In Upper Tier-2 Cities

CHINA PRESS

Upper tier-2 cities in China have taken steps to increase demand for property purchases, according to Yicai.com. The city of Nanjing has lowered down payment ratios for purchasing two properties to 40%, and in Zhengzhou new citizens will enjoy the same treatment as local residents in terms of credit policy, deed tax subsidy, and house price preferences. The paper said the impact of these measures will be small in the short term, as the recovery of the sector next year is more reliant on the stabilisation of the economy and the return of home buyer confidence.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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