Property News · February 10, 2017

Beijing shortens mortgage terms for city’s second-home borrowers


Beijing’s government has shortened the mortgage duration of second-home borrowers domiciled in the city, taking another step to clamp down on speculative home buying and control runaway prices.
Buyers who already own one residential property are now only eligible to take out a mortgage on a second home for no more than 25 years, cutting back the loan period from the previous 30 years, according to several agents in the city.
Agents at 5i5j and Homelink, two of the largest property sales…

Source : South China Morning Post
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