The southern city of Guangzhou, the capital of Guangdong province, is home to the country's most indebted property developer China Evergrande GroupThe move follows decisions by some banks to require smaller downpayments in some cities last week.
Media have also reported this month that developers will also gain easier access to presale proceeds from residential projects.Cutting mortgage rates for first-time home buyers to 80 basis points over the country's benchmark loan prime rate from 100 basis points were the Guangzhou branches of the Bank of China , the Industrial and Commercial Bank of China
中国房地产已经没救了。
𝚃𝚑𝚊𝚗𝚔 𝚢𝚘𝚞 TarellaCampbel 𝚏𝚘𝚛 𝚎𝚟𝚎𝚛𝚢𝚝𝚑𝚒𝚗𝚐 𝚢𝚘𝚞’𝚟𝚎 𝚍𝚘𝚗𝚎 𝚏𝚘𝚛 𝚖𝚎 𝚒𝚗 𝚛𝚎𝚐𝚊𝚛𝚍 𝚝𝚘 𝙸𝚗𝚟𝚎𝚜𝚝𝚒𝚗𝚐. 𝙸’𝚟𝚎 𝚋𝚎𝚎𝚗 𝚊𝚋𝚕𝚎 𝚝𝚘 𝚊𝚌𝚌𝚎𝚜𝚜 𝚏𝚒𝚗𝚊𝚗𝚌𝚒𝚊𝚕 𝚜𝚝𝚊𝚋𝚒𝚕𝚒𝚝𝚢. 𝙸’𝚟𝚎 𝚌𝚕𝚎𝚊𝚛 𝚖𝚢 𝚍𝚎𝚋𝚝𝚜 𝚒𝚗 𝟼𝚖𝚘𝚗𝚝𝚑𝚜