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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.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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