Two provincial capital cities Fuzhou, Xi’an plan to lower home purchase restrictions – state media
POLICY & REGULATION REAL ESTATE
Two provincial capital cities Fuzhou, Xi’an plan to lower home purchase restrictions – state media
POLICY & REGULATION REAL ESTATE

Two provincial capital cities Fuzhou, Xi’an plan to lower home purchase restrictions – state media

 

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Fuzhou, capital of southeast China’s Fujian province, plans to lower downpayment ratio for some homebuyers to support upgrading-based housing demand, according to state-run newspaper Shanghai Securities News. 

The city currently impose downpayment ratio of 30%/40%/50% depending on home ownership, etc, and it plans to lower the ratio for those who already own a home, haven’t paid off mortgage loans and apply for mortgage loans to buy another home to 40% from 50%, according to the report.

Xi’an, capital of northwest China’s Shaanxi province, is planning to lower downpayment ratio and the lower limit of home mortgage rates, according to the report.

The city’s currently downpayment and mortgage policy for first-home purchases is inline with the national policy, while its policy for second-home buying is stricter. After the planed adjustment, the lower limit of mortgage rates and downpayment ratio for second-home purchases will come in line with the national policy. That means, the downpayment ratio for second-home purchases will be 40% and the lower limit of mortgage loans will by LPR + 60 bp, it said.