More Chinese cities are expected to lower down payment ratio demands for house purchases after some cities cut deposit requirements for first-time buyers to as low as 20%, in a bid to prop up the struggling real estate market, the Securities Daily reported, citing analysts. Further relaxation, including optimizing purchase and loan restrictions, in addition to lower mortgage rates, should be deployed to stimulate housing demand, the newspaper wrote, citing analysts. As of early August, nearly 240 cities had issued more than 650 measures to relax housing regulations, ranging from issuing home purchase subsidies and easing purchase restrictions in a bid to attract talented workers, the newspaper noted.
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