Date
19 October 2017

Shenzhen raises second-home down payment to 70%, paper says

The down payment requirement for purchasing a second home in Shenzhen will be raised to 70 percent effective Wednesday, up from 60 percent at present, the Economic Information Daily reported over the weekend, citing the local branch of the People’s Bank of China. The central bank also called on commercial banks in the city to tighten the screening of mortgage applications, the report said. Analysts were quoted as saying that the central government may launch more measures to regulate the city’s property market in the fourth quarter.

– Contact HKEJ at [email protected]

EL/AC/CG

 

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