China Banks Approved $129 Billion Loans for Real Estate Projects on Official Whitelists, China Central Bank to Lend $41 Billion Low Interest Rate Loan to Financial Institutions to Re-Lend to State-Owned Enterprises for Buying Unsold, Resell or Lease Properties as Affordable Housing
23rd May 2024 | Hong Kong
China banks have approved $129 billion of loans for real estate projects on China official whitelists, and the China central bank (People’s Bank of China) is lending $41 billion low interest rate loan to financial institutions to re-lend to China State-Owned Enterprises (SOEs) for buying unsold, resell or lease properties as affordable housing. China has also removed the floor on mortgage rates, and reduced downpayment for 1st-time individual property buyers to 15% & 2nd homes downpayment to 25% (17/5/24). China local governments & state-owned enterprises (SOEs) have also started buying unsold commercial properties & 2nd-hand homes. Hangzhou has announced to acquire residential properties & removed property purchase restrictions. Lin’an announced to start buying properties, and SOE Zhengzhou Urban Development Group to buy 2nd-hand houses. Nanjing, Shenzhen & Shanghai to launch exchange programs for old houses to be exchanged for new houses.
“ China Banks Approved $129 Billion Loans for Real Estate Projects on Official Whitelists, China Central Bank to Lend $41 Billion Low Interest Rate Loan to Financial Institutions to Re-Lend to State-Owned Enterprises for Buying Unsold, Resell or Lease Properties as Affordable Housing “
China Removed Floor on Mortgage Rates & Reduced Downpayment for 1st-Time Individual Property Buyers to 15% & 2nd Homes Downpayment to 25%
22nd May 2024 – China has removed the floor on mortgage rates, and reduced downpayment for 1st-time individual property buyers to 15% & 2nd homes downpayment to 25% (17/5/24). China local governments & state-owned enterprises (SOEs) have also started buying unsold commercial properties & 2nd-hand homes. Hangzhou has announced to acquire residential properties & removed property purchase restrictions. Lin’an announced to start buying properties, and SOE Zhengzhou Urban Development Group to buy 2nd-hand houses. Nanjing, Shenzhen & Shanghai to launch exchange programs for old houses to be exchanged for new houses.
China Local Governments & State-Owned Enterprises Start Buying Unsold Commercial Properties & 2nd-Hand Homes, Hangzhou Announced to Acquire Residential Properties & Removed Property Purchase Restrictions, Lin’an to Start Buying Properties, Zhengzhou Urban Development Group to Buy 2nd-Hand Houses, Nanjing, Shenzhen & Shanghai to Launch Exchange Programs for Old Houses to be Exchanged for New Houses
17th May 2024 – China local governments & state-owned enterprises (SOEs) have started buying unsold commercial properties & 2nd-hand homes. Hangzhou has announced to acquire residential properties & removed property purchase restrictions. Lin’an announced to start buying properties, and SOE Zhengzhou Urban Development Group to buy 2nd-hand houses. Nanjing, Shenzhen & Shanghai to launch exchange programs for old houses to be exchanged for new houses.
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