The Chinese mainland has unveiled a series of historic real estate policies aimed at revitalizing the housing market. Experts are hailing these measures as a significant step towards fostering sustained development within the sector.
Key policy changes include cutting the minimum down payment ratios, lowering loan rates for individual housing provident funds, abolishing mortgage floor rates, and permitting local government authorities to purchase homes at \"reasonable\" prices to provide affordable housing options.
Dong Ximiao, chief researcher of Merchants Union Consumer Finance Co Ltd, highlighted the importance of these adjustments in an interview with Economic Daily. \"These financial policy adjustments exceed market expectations and send a strong signal of stabilizing the real estate market,\" Dong explained. He further added that this initiative is expected to bolster confidence in the housing market and enhance residents' willingness and ability to consume.
Analysts believe that these comprehensive reforms will not only provide a significant boost to the housing market but also contribute to the long-term stability and growth of the real estate sector in the Chinese mainland.
Reference(s):
China's 'historic' real estate policies to boost sector: Experts
cgtn.com
