Central China Metropolis Eases Homebuying Rules to Jolt Sluggish Local Market

What’s new: Zhengzhou has launched a slew of measures to shore up its sluggish real estate market, including lowering the down-payment requirements for second home – the first major city to do so since 2016, according to analysts at brokerage Ping An Securities Co. Ltd.

Authorities in the Central China metropolis will lower the down-payment requirement from 60% to 30% of the mortgage for those buying second homes, as long as they have paid off the mortgage for their first home.