Chinese cities introduce measures to boost real estate sector
Major Chinese cities have announced that they will allow people to take out low-interest loans to buy their own homes, regardless of their credit rating. This is the latest move to help revitalize a troubled real estate sector.
Cities including Shenzhen, Guangzhou and Wuhan have made announcements to ease mortgage requirements, following guidance from the central bank last Friday.
GERMANY’S FIRST GIANT PANDAS CELEBRATE 4TH BIRTHDAY WITH CAKE BEFORE TRAVEL TO CHINA
Residential and commercial buildings are located in downtown Guangzhou, China, 7 October 2017. Picture taken on October 7, 2017. (REUTERS/Bobby Yip/archive photo)
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Separately, the eastern province of Jiangsu late Thursday announced measures to lower the down payment rate for first-time home buyers and lower mortgage rates for first-time or second-time buyers.
According to a state-backed local media report, the province will also ease other mortgage conditions.
