Property News · April 10, 2018

Mortgage users say new home sales discrimination is rife, as more developers demand upfront payments


Homebuyers in some Chinese cities claim they are being barred from purchasing new properties, unless they pay in cash, without the use of a mortgage.
A combination of factors have led to the phenomenon, say commentators, including more new home price controls, a shortage of supply, and long waiting periods for mortgages to be approved by lenders.
Price controls in some cities such as Shanghai and Beijing have resulted in new homes being sold at 20-30 per cent discounts, which has had the knock-…

Source : South China Morning Post
Read more…Mortgage users say new home sales discrimination is rife, as more developers demand upfront payments

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