Beijing is lowering the minimum down-payment ratio for buyin...
Beijing is lowering the minimum down-payment ratio for buying a home to 20% from 30%, and for some second home buyers to 35% from 40%.
The city is also reducing the floor rate for a first-home mortgage to the loan prime rate (LPR) minus 45 basis points.
Beijing faces the worst oversupply among 30 major cities tracked by China Real Estate Information Corp. Its new home inventory needs 48.9 months to sell, CRIC estimated.
The capital’s new-home prices slumped 1.1% in May, the worst drop in almost a decade, the latest official data showed.
The city is also reducing the floor rate for a first-home mortgage to the loan prime rate (LPR) minus 45 basis points.
Beijing faces the worst oversupply among 30 major cities tracked by China Real Estate Information Corp. Its new home inventory needs 48.9 months to sell, CRIC estimated.
The capital’s new-home prices slumped 1.1% in May, the worst drop in almost a decade, the latest official data showed.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
