Banca March: China is taking steps to revive the real estate sector. In order to support the real estate market and revive the economy, the Chinese government is once again focusing on demand. On the one hand, local governments in major cities are offering more favourable conditions to first-time homebuyers. On the other hand, for people wishing to buy a second home, the country had strong restrictions to avoid massive speculation – forcing them to have a down payment of up to 80% of the value of the property. These restrictions have been relaxed in this new round of measures, and they now have the same conditions as first-time homebuyers.
China offers more favourable terms to first-time homebuyers to revive property sector
