Shanghai is shaking things up! 🏙️ On Monday, the city's authorities announced a series of bold measures to give its property market a fresh boost. 👏
We're talking about nine specific policies designed to help residents find their dream homes and meet the diverse living needs of this vibrant metropolis. Whether you're a first-time buyer or looking to upgrade, there's something here for you! 🏡✨
So, what's on the table? For starters, they've eased home-purchase restrictions for non-Shanghai residents and divorced couples. Families with two or more kiddos can now snag an additional home. 👨👩👧👦 Plus, the lending cap for mortgages under the housing provident fund—a savings plan where both you and your employer chip in—has been lifted! 💰⬆️
But wait, there's more! The minimum down-payment ratio for individual commercial housing mortgages is now down to just 20% for first-home purchases and 35% for second homes. 🎉 In the Shanghai Pilot Free Trade Zone Lingang New Area and six suburban districts, the down payment for second homes has been slashed to 30%. Now that's some serious savings! 💸
These changes aim to make homeownership more accessible and keep the city's housing market buzzing. If you're thinking about planting roots in Shanghai, there's never been a better time! 🌟
Reference(s):
Shanghai releases major policy package to stimulate property market
cgtn.com
