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Shenzhen Further Lowers Housing Downpayment

CHINA PRESS
MNI (Singapore)

Shenzhen has lowered the minimum down-payment ratio for second homes to 40% from the previous 70-80% starting Thursday, one of the first tier-one cities to do so. Authorities also adjusted the standard for ordinary housings by removing the price cap of less than CNY7.5 million, which will allow more homebuyers to enjoy preferential tax policies. The housing market in Shenzhen may rebound for one-two months, but sustainability needs further observation, as the overall regulation remains relatively strict and buyer confidence has not yet fully recovered, said Zhang Hongwei, founder of Jingjian Consulting. (Source: The Beijing News)

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