Homebuyers in three of China’s largest cities have benefited from local authorities’ implementation of the central government’s property sector subsidies.
Shanghai, Shenzhen, and Guangzhou lowered downpayment requirements and permitted cheaper home loans to boost housing demand. Beijing is expected to follow.
Tianjin, a 14-million-person city near Beijing, decreased the downpayment ratio to 15% and eliminated the mortgage-rate floor on Wednesday. Similar actions were taken in Shenyang.
