1. LINE

      Text:AAAPrint
      Economy

      China relaxes mortgage rules for second home buyers

      1
      2015-03-31 08:27Xinhua Editor: Mo Hong'e

      官方使出政策“組合拳” 釋放促樓市平穩發展信號

      中國人民銀行、住房和城鄉建設部、中國銀行業監督管理委員會聯合下發通知,擁有一套房且房貸未結清的家庭再貸款購買二套房時,最低首付比例從六成下調至不低于四成;同時,公積金貸款購房的首套房最低首付比例統一為二成,二套房下調為三成。

      Photo taken on Jan 1, 2015 shows an apartment project in Huzhou, East China's Zhejiang province. (Photo/Xinhua)

      Chinese authorities on Monday decided to relax mortgage rules for second home buyers to address demand for improved housing and lift the sagging housing market.

      Minimum down payment levels for second home buyers in general will be lowered to 40 percent from the current 60 to 70 percent, said a statement jointly published by the central bank, the Ministry of Housing and Urban-Rural Development, and the China Banking Regulatory Commission.

      Meanwhile, minimum down payments for second home buyers using public housing funds will be cut to 30 percent from the current 60 percent; for first home buyers using public housing funds, the minimum down payment will be reduced to 20 percent of the home's value, down from the current 30 percent.

      Public housing funds are drawn from a reserve fund which urban registered employees and employers are obliged to contribute to. Employees can access the fund for home purchase loans at better rates than those offered by commercial banks.

      The moves are meant to "support residents' demand for improved housing conditions and promote the steady and healthy development of the housing market," said the statement.

      The Ministry of Finance also announced on Monday that sales of homes purchased over two years ago will be exempt from business tax, which is 5.5 percent of the contract price of the house.

      Currently, sales of homes purchased over five years are exempt from the tax.

      These latest measures came as China's property market took a downturn in 2014 after boom years that saw home prices rocket to levels out of reach for common wage earners. The cooling trend has continued into 2015, with both sales and prices falling, and investment slowing.

      Zhu Haibin, J.P. Morgan China chief economist, said the measures are another step to stabilize the economy following disappointing January and February macro activity data, which indicated weak momentum in industrial output, investment, and retail sales.

      The Chinese economy grew in 2014 by 7.4 percent, its lowest pace in 24 years.

      According to the government work report delivered by Premier Li Keqiang earlier this month, China will stabilize housing consumption this year, raising expectations of new easing policies.

      Xia Dan, a researcher at Bank of Communications, said the measures announced on Monday were stronger than expected.

      "The minimum 20-percent down payment for first home buyers will significantly reduce buyers' financial burden and raise their purchasing capability," said Xia, who also expects the business tax exemption to boost transactions particularly in first and second-tier cities.

      Zhu forecast further moves on monetary policy, including one more cut in reserve requirement ratio by 50 basis points in April and another 25bp interest rate cut in the second quarter, to ease financing conditions for the property market.

      The central bank has cut interest rates twice since November, and it dropped the reserve requirement ratio for banks in February.

      Last week, China's land and housing authorities announced measures to regulate land supply for residential buildings, asking local governments, with excessive home inventories to "significantly" reduce or halt land supply.

      According to an official survey of 70 cities, new home prices dipped in 66 of the cities on a monthly basis in February. On a year-on-year basis, the prices dipped in 69 of the cities.

       

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 日韩精品无码免费专区网站| 久久精品国产亚洲AV麻豆不卡| 亚洲人成人77777网站不卡| 国产无遮挡又黄又爽免费网站| 无码欧精品亚洲日韩一区夜夜嗨 | 国产va在线观看免费| 久久精品国产精品亚洲人人| 亚洲精品偷拍视频免费观看| 亚洲中文字幕无码爆乳av中文| 男人j进女人p免费视频| 亚洲成年看片在线观看| 一级做a免费视频观看网站| 国产亚洲人成网站在线观看| 国产精品综合专区中文字幕免费播放 | 亚洲国产91在线| 大学生a级毛片免费观看| 亚洲成在人线在线播放无码| 四虎影院在线免费播放| 亚洲av无码兔费综合| 又黄又大又爽免费视频| 中国一级全黄的免费观看| 亚洲国产精品久久久久婷婷软件 | 桃子视频在线观看高清免费完整| 亚洲人成免费电影| 韩国18福利视频免费观看| 美女扒开尿口给男人爽免费视频| 中文字幕亚洲天堂| 精品熟女少妇a∨免费久久| 国产精品高清视亚洲精品| 国产精品视频免费一区二区三区 | 2019中文字幕在线电影免费| 久久精品国产亚洲AV蜜臀色欲 | 亚洲av无码成人影院一区| 亚洲va中文字幕无码| 久久这里只精品国产免费10| 日韩亚洲产在线观看| 亚洲一区二区三区在线视频 | 欧洲黑大粗无码免费| 老牛精品亚洲成av人片| 国产精品亚洲片在线观看不卡 | 曰批全过程免费视频在线观看无码 |