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Mega Cities Ease Downpayment Requirements

CHINA

(MNI) London - Two of the Chinese mega cities have added to the recent raft of support for the troubled property sector.

  • Beijing cut downpayments for first-home buyers to 30% (from 35-40%), while lowering downpayments for second-home buyers to 40-50% (from 60-80%), per reports.
  • Shanghai cut the downpayment requirement for first-home buyers to 30%, while trimming requirements for second-home buyers to 50%. The city also redefined “ordinary homes,” which loosens the criteria re: benefitting from preferential policy. These comments came via CCTV.
  • Expect continued easing measures to support activity and funding in the sector in the coming months, at a minimum.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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