Shenzhen’s mortgage default rate at 0.23%, market rumor about foreclosure wave is false – authority 
DATA
Shenzhen’s mortgage default rate at 0.23%, market rumor about foreclosure wave is false – authority 
DATA

Shenzhen’s mortgage default rate at 0.23%, market rumor about foreclosure wave is false – authority 

 

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The local financial regulatory authority in China’s technology hub of Shenzhen has refuted the market rumours that the number of residential units in the city that have been foreclosed has reached nearly 147,000.

The authority said that the information is grossly inconsistent with the real situation and the current mortgage default rate in Shenzhen is 0.23%, which has been maintained at a relatively low level and has not seen any significant change, according to the local government-backed news media.