Dalian city to offer home purchase subsidy to boost sluggish housing market

 

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The city Dalian, northeast China’s Liaoning province, will off home purchase subsidy and optimize home mortgage policy to boost the sluggish housing market.

Individuals who purchase newly constructed residential properties in Zhongshan District, Xigang District, Shahekou District, and Ganjingzi District will be eligible for a housing subsidy of 200 yuan per square meter, based on the area of the real estate property stated in the real estate certificate, effective from the date of the announcement until the end of 2023, according to a notice released by the municipal government.

The housing subsidy will not exceed the total amount of deed tax paid by the buyer, it said.

When homebuyers apply for home mortgage loans, banks and financial institutions in Dalian will use home ownership instead of mortgage records to recognize first-home mortgage qulification, it said.