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Downpayment Ratio for Second Home Drops to 40%
   2015-03-31 10:58:32    CRIENGLISH.com      Web Editor: Wang

The picture taken on Mar 25, 2015 shows a commercial property site in Rizhao city, Shandong province. [Photo: Imagine China]


 

Chinese authorities are lowering the required downpayment for second home purchases to 40-percent from 60-percent to prop-up the housing market.

The minimum downpayment ratio for first-time home buyers who use the government's housing fund is also being reduced from 30-percent to 20-percent.

At the same time, if buyers use the housing fund, the ratio for a second home purchase will remain at 30 percent, provided all their loans are paid off on the first house.

For more on the move, we're joined now live by Gao Shang, analyst with Beijing-based Guantong Futures.

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