中文简体 | 中文繁体 | Партнеры | 日本語 | 한글
your position :English > News > China  content
China Further Relaxes Home Purchase Limits
  • Creative USB flash drives
  • First sip of avocado
  • Dressing like One Direction!
  • World's largest strawberry hits new Guinness record
  • In pics: cute polar bear cubs
  • http://english.dbw.cn   2016-02-03 14:02:45
     

    China's central bank is moving to stimulate the housing market in certain parts of the country.

    Under new regulations, minimum levels of down payments for first home buyers can be cut by as much as 20 percent.

    The People's Bank of China has announced down payments for first home buyers, financed by loans from commercial banks, will stay at a minimum of 25 percent "in principle."

    However, the PBOC says in some cases, the minimum down payment can be lowered to as much as 5 percent.

    First-time buyers in cities which have their own restrictions will not qualify.

    Beijing, Shanghai, Guangzhou, Shenzhen and Sanya are currently the 5 cities in China which have restrictions on home purchases.

    New home prices are beginning to rebound again after months of declines, mostly in southern China.

    For more on China's the effect this might have on China's housing market, CRI's Spencer Musick spoke earlier with John Ross, Senior fellow of Chongyang Institute for Financial Studies, Renmin University.

    Author:    Source: CRI     Editor: Yang Fan

    share: 0