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Bond Market News

China Takes Steps To Ease Real Estate Concerns

September 4, 2023

China has taken steps to allow its largest cities to cut down-payments for homebuyers whilst also encouraging lenders to lower existing mortgage rates. The minimum down-payment will be uniformly set at 20% for first-time buyers and 30% for second-time buyers, as per a statement from the PBoC and National Administration of Financial Regulation. Regarding mortgage-rate cuts, it will be negotiated between banks and customers. Both policies be in place from September 25. This comes as part of measures by the government to contain the meltdown in the country’s property market. Expectations are for these measures to boost property sales and alleviate liquidity pressures for buyers, besides improving market sentiment.

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