19 September 2018

Shanghai raising down-payment for 2nd-home buyers, govt says

The minimum down-payment requirement for second-home buyers in Shanghai will be raised to 70 percent from the current 60 percent as local authorities seek to rein in rising home prices, according to a statement posted on the website of the Shanghai Municipal Housing, Land and Resource Administration on Friday. Meanwhile, land supply for residential housing in the city will be increased by 30 percent this year. Shanghai’s move comes after Shenzhen announced tighter measures last week to keep home prices in check.

– Contact HKEJ at [email protected]



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