Reported 6 months ago
China's major cities, including Shanghai, Shenzhen, and Guangzhou, have eased housing regulations by reducing downpayment requirements and mortgage rates, in line with the central government's efforts to support the struggling property sector. The easing measures aim to boost homebuyer confidence amidst falling prices and job insecurity, with analysts expecting other top-tier cities to follow suit. This move follows the central bank's injection of $41 billion to help local governments address unsold homes, with developer shares in China rising as a result.
Source: YAHOO