Reported about 1 year ago
As housing prices continue to soar and the 'New Qing-An' effect intensifies, the average loan term has reached a new high of over 25 years. Statistics from the Credit Information Center show that in Q4 of 2023, the average repayment period for national home loan borrowers was 304 months, with an average loan term exceeding 25 years. The 40-year loan term offered by the 'New Qing-An' policy has attracted many homebuyers, leading to a surge in average loan terms. Experts advise caution as longer loan terms result in higher interest payments, recommending early repayment to avoid excessive financial risks.
Source: YAHOO