Reported 11 months ago
Beijing has joined China's other mega cities in easing homebuying requirements, reducing downpayment requirements by 10 percentage points to a minimum of 20% for first-time buyers and lowering the threshold to a minimum of 35% for second homes in urban areas and 30% elsewhere. This move follows the central government's unveiling of a 300 billion yuan package to stimulate demand in the real estate market. The easing also includes benefits for families with two or more children and comes as Beijing faces significant oversupply and a slump in new-home prices.
Source: YAHOO