China to cut mortgage rates as part of plan to prop up property market
Briefly

from www.theguardian.com2 weeks ago
China is cutting mortgage rates, reducing down-payment ratios, and creating a facility to support local state-owned companies in buying homes to revive the property market.
www.theguardian.comhttps://www.theguardian.com/world/article/2024/may/17/china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market
Chinese government's efforts aim to restore confidence after house prices fell steeply, with Evergrande's default in 2021 triggering a property market crisis.
www.theguardian.comhttps://www.theguardian.com/world/article/2024/may/17/china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market
The property sector's stability is crucial for economic development, requiring cooperation from local governments, developers, and financial institutions.
www.theguardian.comhttps://www.theguardian.com/world/article/2024/may/17/china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market
Markets reacted positively to the announcement, with real estate stocks rising, amidst fears of credit crunch from defaults by large property developers.
www.theguardian.comhttps://www.theguardian.com/world/article/2024/may/17/china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market
Read at www.theguardian.com
#china #property-market #mortgage-rates #affordable-housing #economic-development
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