Chinese Cities Ease Home Buying Rules to Boost Real Estate Market
Guangzhou, Shenzhen, and Shanghai implement measures to lower down payments and relax purchase restrictions.
- Guangzhou reduces minimum down payment for first-home buyers to 15% and second-home buyers to 25%.
- Shenzhen lowers down-payment ratios to 20% for first homes and 30% for second homes.
- Shanghai cuts residency requirement for home purchases from five years to three years.
- Several cities, including Beijing and Hangzhou, have recently eased property purchase restrictions.
- The central government is considering buying unused commercial real estate to address the crisis.