Free Trial

Shenzhen Further Lowers Housing Downpayment

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)

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.