Chinese cities lower or scrap floor on mortgage rates to boost demand

BEIJING : Many Chinese cities have rushed to lower or even scrap the floor on mortgage rates for first-time home buyers in recent weeks, a research firm report said on Thursday, as authorities eased rules further in their bid to rekindle demand for residential property.

At least 26 cities have taken such measures, including the mega-city of Tianjin and some provincial capitals like Zhengzhou and Fuzhou, according to a report by Shanghai-based firm E-house China Research and Development Institute. There are signs of a recovery in the sector, thanks to a flurry of state support measures and the government's lifting of strict anti-COVID policies in December. Fragile demand, however, is still a key constraint on a full recovery.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

More Chinese cities post gains in new home prices - private surveyBEIJING : New home prices in more major Chinese cities extended gains in January, a private survey showed on Wednesday, offering tentative signs of improving market confidence, as a flurry of property policy easing steps take effect.New home prices rose month-on-month in 12 cities, up from 10 in December,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »