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China’s Shenzhen Relaxes Homebuying Curbs to Spur Demand
China’s Shenzhen will be easing a key restriction on home purchases as authorities seek to arrest a slump in the nation’s property market. The city, a technology hub in southern China connecting Hong Kong, will lower the down-payment ratio for second homes to 40% from as much as 80%, according to Shanghai Securities News and China Central Television. Shenzhen’s new rule could encourage home upgrades and boost demand and sales for larger homes, said Yan Yuejin, research director at E-house China Research and Development Institute. The announcement “suggests that tier-one cities’ mortgage policy has been ... (full story)