{"id":144427,"date":"2024-05-17T19:19:04","date_gmt":"2024-05-17T12:19:04","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market\/"},"modified":"2024-05-17T19:32:00","modified_gmt":"2024-05-17T12:32:00","slug":"china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-to-cut-mortgage-rates-as-part-of-plan-to-prop-up-property-market\/","title":{"rendered":"China to cut mortgage rates as part of plan to prop up property market"},"content":{"rendered":"


\nLocal authorities will be allowed to turn unsold homes from developers into affordable housingChina will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures by Beijing aimed at propping up the country\u2019s faltering property market.The People\u2019s Bank of China said it would scrap the minimum rate of interest and reduce down-payment ratios to 15% for first-time buyers and 25% for second homes. It will also create a 300bn yuan (\u00a332.8bn) facility to support local state-owned companies to buy homes at reasonable prices, it said in a series of statements on Friday. Continue reading…
\n
\nSource : theguardian.com
\nRead more…China to cut mortgage rates as part of plan to prop up property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Local authorities will be allowed to turn unsold homes from developers into affordable housingChina will...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-144427","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-Bzt","jetpack-related-posts":[{"id":146637,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shenzhen-joins-chinese-local-governments-taking-unsold-homes-off-developers-hands\/","url_meta":{"origin":144427,"position":0},"title":"Shenzhen joins Chinese local governments taking unsold homes off developers\u2019 hands","date":"August 8, 2024","format":false,"excerpt":"\r The city becomes the first tier-1 metropolis to heed Beijing\u2019s call to help bail out property developers while adding to affordable housing stock.\r \r Source : South China Morning Post\r Read more...Shenzhen joins Chinese local governments taking unsold homes off developers\u2019 hands","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":134364,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-crisis-thirty-cities-cut-mortgage-rates-on-first-homes-to-key-level-in-bid-to-boost-struggling-market\/","url_meta":{"origin":144427,"position":1},"title":"China property crisis: thirty cities cut mortgage rates on first homes to key level in bid to boost struggling market","date":"February 2, 2023","format":false,"excerpt":"\r Thirty mainland Chinese cities lowered mortgage rates for first-time buyers to below the key level of 4.1 per cent in January, according to the Beike Research Institute, as local governments respond to Beijing\u2019s pledge to help people get onto the property ladder.\r \r Source : South China Morning Post\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144425,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-property-beijing-launches-us41-billion-fund-to-buy-unsold-homes-in-major-drive-to-rescue-housing-market\/","url_meta":{"origin":144427,"position":2},"title":"China property: Beijing launches US$41 billion fund to buy unsold homes in major drive to rescue housing market","date":"May 17, 2024","format":false,"excerpt":"\r Beijing has launched a 300 billion-yuan fund to help clear excess housing inventory, as well as measures to ensure developers have access to financing and that homes are delivered on time.\r \r Source : South China Morning Post\r Read more...China property: Beijing launches US billion fund to buy unsold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144417,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-vice-premier-he-lifeng-calls-on-cities-to-buy-back-residential-land-unsold-homes-to-aid-distressed-developers\/","url_meta":{"origin":144427,"position":3},"title":"Chinese Vice-Premier He Lifeng calls on cities to buy back residential land, unsold homes to aid distressed developers","date":"May 17, 2024","format":false,"excerpt":"\r He Lifeng stressed the need to \u2018carry on the battle\u2019 to surmount the risks that unfinished and unconstructed homes represent, as the health of the property market is tied closely to social wellness and economic development.\r \r Source : South China Morning Post\r Read more...Chinese Vice-Premier He Lifeng calls\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118435,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-developers-face-potential-price-war-in-second-half-amid-glut-as-state-issues-red-lines-in-deleveraging-campaign\/","url_meta":{"origin":144427,"position":4},"title":"Chinese developers face potential price war in second half amid glut as state issues \u2018red lines\u2019 in deleveraging campaign","date":"September 2, 2020","format":false,"excerpt":"\r China\u2019s biggest developers are likely to step up price discounting this year to clear a growing pile of unsold homes, with authorities sounding another alarm in their deleveraging campaign to pre-empt any financial shock to the economy.Completed but unsold homes amounted to 480 million square metres (5.16 billion square\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93111,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-chinas-developers-sell-fewer-homes-as-beijing-pays-less-for-resettlement\/","url_meta":{"origin":144427,"position":5},"title":"Will China\u2019s developers sell fewer homes as Beijing pays less for resettlement?","date":"July 4, 2018","format":false,"excerpt":"\r China\u2019s property developers which benefitted from selling homes to buyers resettled from shanty towns after Beijing capped mortgage lending and price increases may have hit the wall as authorities cut relocation compensation in the ongoing drive to stem overheating. 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