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Down payment percent slashed
Source: Shanghai Daily |
September 1, 2015, Tuesday
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Print Edition
Print Edition
THE People’s Bank of China has slashed the minimum down payment requirement rate for second home buyers, who borrow from their local housing provident funds, to a minimum 20 percent from the previous 30 percent. It is the latest effort to support China’s housing market.
PBOC announced the adjustment jointly with the housing ministry and the banking regulator. Shanghai, Beijing, Guangzhou and Shenzhen have been told to decide their own down payment level for their citizens.
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