Chinese city lowers down payment requirement for home buyers, more local governments expected to follow suit

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Zhumadian city in China's central Henan province announced a package to support the housing market that has been hit by the coronavirus outbreak.

While a number of local governments have rolled out policies to ease short-term cash strains faced by developers, Zhumadian is the first city to lower the minimum down payment requirement for home buyers to boost housing demand. Industry watchers expect more local governments, in particular tier-3 and tier-4 cities, to introduce similar measures to boost demand in the housing market.

The city said the measures include those aimed . . .

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