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Market
Effectiveness of converting unsold properties by end of 2024
4
Resolution / Starting Odds
Highly effective • 33%
Moderately effective • 33%
Ineffective • 34%
National Financial Regulatory Administration reports
Story
Shanghai Lowers Downpayment Ratios to 20% and 30%, Eases Home Purchase Rules
May 27, 2024, 10:52 AM
Shanghai has announced a series of measures to support its property market, becoming the first major Chinese city to implement such extensive easing policies. The financial hub has lowered the minimum downpayment ratio for first-time homebuyers to 20% and for second-time buyers to 30%. Additionally, mortgage rates have been reduced to LPR minus 45 BPS, and restrictions on home purchases for non-local residents and divorced couples have been eased. These measures are part of a broader national effort by China to stabilize its real estate market, which has been facing significant challenges. Since May 17, 71 major cities have implemented property promotion policies, including trade-in deals for old homes. The central government has also encouraged state-owned enterprises to buy unsold properties and convert them into affordable housing. Li Yunze, head of the National Financial Regulatory Administration, has been actively involved in the inspection and coordination of these efforts.
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Fully Effective • 25%
Partially Effective • 25%
Ineffective • 25%
Not Implemented • 25%
Significantly effective • 25%
Moderately effective • 25%
Slightly effective • 25%
Not effective • 25%
Highly effective • 25%
Moderately effective • 25%
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Too early to assess • 25%
Highly effective • 33%
Moderately effective • 33%
Ineffective • 34%
Majority adoption • 33%
Selective adoption • 33%
Majority non-adoption • 33%
Significant reduction • 33%
Moderate reduction • 33%
Minimal or no reduction • 33%
Effective in reduction • 33%
Ineffective in reduction • 33%
Mixed results • 34%
Highly effective (>50% reduction) • 33%
Moderately effective (10-50% reduction) • 33%
Ineffective (<10% reduction) • 34%
Significant decrease in home purchases • 33%
Moderate decrease in home purchases • 33%
No significant change in home purchases • 34%
Significantly reduced risk • 25%
Moderately reduced risk • 25%
No change in risk • 25%
Increased risk • 25%
0-2% • 33%
2-4% • 33%
More than 4% • 33%
Increased average time • 50%
Decreased average time • 50%