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More First-tier Cities Ease Housing Mortgage Policies

CHINA PRESS
MNI (Singapore)
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Guangzhou and Shenzhen become the latest first-tier cities in China to lower the minimum down-payment ratio and interest-rate floor for housing mortgages on Tuesday following Shanghai’s relaxation, Cls.cn reported. Beijing, the only tier-one city left, is expected to follow by cutting the down-payment for first-time buyers to 20%, similarly to Shanghai and Shenzhen, the financial publisher said citing an unnamed industry insider. While Guangzhou and other cities will likely adopt the nationwide lower limit of 15% down-payment, said Yan Yuejin, director at the E-house China Research and Development Institution.

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Guangzhou and Shenzhen become the latest first-tier cities in China to lower the minimum down-payment ratio and interest-rate floor for housing mortgages on Tuesday following Shanghai’s relaxation, Cls.cn reported. Beijing, the only tier-one city left, is expected to follow by cutting the down-payment for first-time buyers to 20%, similarly to Shanghai and Shenzhen, the financial publisher said citing an unnamed industry insider. While Guangzhou and other cities will likely adopt the nationwide lower limit of 15% down-payment, said Yan Yuejin, director at the E-house China Research and Development Institution.