Reported 9 months ago
Following Shanghai, Guangzhou, and Shenzhen, Beijing announced on June 26, 2024, the relaxation of housing policies to complete the puzzle for first-tier cities by lowering down payment rates. The down payment for the first property was reduced from 30% to 20%, along with a decrease in loan interest rates adjusted to 3.5% for the first property. With expectations in the market, Beijing finally followed suit. The minimum down payment rate for the first property was reduced from 30% to 20%, while for the second property, it is divided into within and outside the Fifth Ring Road with minimum rates of 35% and 30% respectively. Loan interest rates were also adjusted accordingly, providing relief and benefits to potential homebuyers and families with multiple children.
Source: YAHOO