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Express News | China's central bank: At the end of the third quarter of 2024, the balance of renminbi real estate development loans was 13.79 trillion yuan, an increase of 2.7% year-on-year.
Express News | Lan Foan: The relevant tax policies supporting the healthy development of the real estate market have been approved according to procedures and will be launched soon.
Express News | The central bank: actively support the acquisition of existing commodity houses for affordable housing, support the activation of idle land reserves.
First-time home loan interest rates in cities such as Hangzhou, Nanjing, and Suzhou have returned to the "3" level. The interest rate for provident fund loans may be even further reduced due to inversion.
Hangzhou, Nanjing, Suzhou and other places have successively adjusted mortgage interest rates. Industry insiders believe that in the current stabilization trend of the real estate market, cities raising the lower limit of mortgage interest rates have a certain significance as an indicator.
Daily real estate industry updates summary (2024-11-07)
A bank of china employee in the Guangzhou area told reporters that the branch has received a notice stating "the new mortgage interest rate shall not be lower than 3%". Starting from November 7th, the new mortgage interest rate in the Guangzhou area will be implemented at 3%.
The Hainan Province has optimized the loan purchase policy for "Nei Fang": no longer distinguishing between first-time and second-time housing, the down payment for housing is not less than 15%.
Hainan Province's seven departments jointly issued a notice aimed at optimizing the housing loan policy to enhance market vitality. According to the notice, commercial individual residence loans will no longer distinguish between first and second homes, with a unified minimum down payment ratio of not less than 15%. The adjustment helps reduce the down payment pressure on homebuyers, increase the willingness to purchase residences, and thereby stimulate market demand. For residents who meet certain criteria such as families with multiple children, if they have already paid off the corresponding housing loans under the name of the city or county and apply for a loan to purchase a residence again, banks will carefully determine the down payment ratio and loan interest rate based on the borrower's repayment ability and credit situation. In addition, the notice also addresses the residential properties on newly supplied land.
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