Shanghai Eases Property Measures to Support Housing Demand
- brg_news_room
- 1 hour ago
- 1 min read
China: Shanghai will ease several property-related measures from Friday, including mortgage, housing provident funds and purchase subsidy policies, as authorities seek to support housing demand. For second homes purchased outside the city’s outer ring expressway, the minimum down payment for commercial mortgages will be reduced to 15%, from 20% previously. The measures form part of a broader adjustment to housing policies in the city.
Authorities will also provide temporary subsidies of up to CNY 80,000 (USD 11,900) to eligible buyers who sell a second-hand home after purchasing a new home outside the outer ring expressway. The measures are intended to support transactions in the residential property market.
Source: Reuters
