Shanghai’s luxury real estate market stands out as a bright spot in China’s otherwise bleak property sector. Despite the ongoing housing correction, a $15 million penthouse in Shanghai was purchased within hours of going on sale, and 200 homes priced from nearly $5 million were taken in less than a day. Shanghai remains the only mega city in China still attracting significant investment in its luxury real estate market. Meanwhile, Beijing has joined other major cities like Guangzhou and Shenzhen in easing homebuying requirements, including reducing mortgage interest rates and the minimum down-payment ratio, to support the real estate sector. Beijing also raised the housing fund loan cap to ¥1.6M. These measures were announced on June 26.
Following Shanghai, Guangzhou, and Shenzhen, Beijing lowers the first-home down payment to 20% and raises the housing fund loan cap to ¥1.6M. This move aligns all four first-tier cities on the latest property market support policies: https://t.co/tVxGDmj0kJ
🔵 BEIJING CITY CUTS HOME BUYING COSTS TO BOOST DEMAND China's capital city Beijing announced steps on Wednesday to reduce the cost of buying a home, including cutting mortgage interest rates and the minimum down-payment ratio, to try to boost the local property market. Full… https://t.co/6MMVVlZOPU
China’s capital city of Beijing eased homebuying requirements for downpayment and mortgages, joining the country’s other mega cities to support the real estate sector https://t.co/vPCBL6aWpB
CHINA’S BIG HOUSING CORRECTION IS NOT OVER - FT
China’s Big Housing Correction Is Not Over - FT https://t.co/qajQlnDerF
China’s big housing correction is not over https://t.co/pE5NjA9xwu | opinion
China’s big housing correction is not over https://t.co/Bc0s93Ok6I
Shanghai’s luxury real estate market is the only one among China’s mega cities that’s still attracting people to put down money in an asset class that has otherwise been abandoned. https://t.co/kWCyHI6KZ2
Shanghai’s luxury real estate market is a bright spot in China’s bleak property sector. It’s the only one among the country’s mega cities that’s still attracting people to put down money in an asset class that has otherwise been abandoned. https://t.co/2Kje82Yf8U
Shanghai’s luxury real estate market is a bright spot in China’s bleak property sector. Highlights include a $15 million penthouse that was bought hours after it went on sale, and 200 homes priced from nearly $5 million that were taken in less than a day. https://t.co/YEbwimlhUF
Checking in on China's housing market https://t.co/94qX8STUR5
The way back from the abyss for China’s real estate companies is full of potential snags. https://t.co/kYrwq9knSB
ICYMI! After two years of massive downward pressure on #China's #GDP growth, things are getting worse(!) for the Chinese real estate sector. The decline in home price values is accelerating, hollowing out Chinese household wealth! China WILL lower rates! https://t.co/xlsf6SbYRB