Shanghai Optimizes Personal Housing Credit Policies, Introdues Phased Home Purchase Subsidy Policies
AASTOCKS News·
- Several departments in Shanghai jointly issued a notice on optimizing real estate policy measures, which will take effect on August 21.
- The policy reduces the minimum down payment for second-home commercial loans outside the outer ring road to 15%, and introduces trade-in housing loan subsidies along with cash subsidies totaling up to 80000 RMB.
- Furthermore, the city expands the scope of housing provident fund withdrawals for down payments to include newly completed commercial housing and relaxes withdrawal limits and frequencies.