Shanghai Relaxes Mortgage Rules to Bolster Housing Market Support
Listen to the full version

What’s new: Shanghai, China’s financial hub, lowered downpayment ratios and the mortgage rate floor for first-time homebuyers, becoming the first among the country’s biggest cities to step up easing measures to shore up the ailing housing market.
The city of nearly 25 million residents reduced downpayment ratios by 10 percentage points to a minimum of 20% for first-time buyers. The ratio was lowered to 30% from 40% for second-home buyers, according to a Monday statement by the central bank’s Shanghai branch.

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- DIGEST HUB
- Shanghai reduced downpayment ratios for first-time and second-home buyers to 20% and 30%, respectively.
- The mortgage rate floor in Shanghai was lowered to 3.5% from 3.85%.
- These changes align with China’s central government's broader policy measures to stabilize the housing market, involving $41.4 billion in cheap loans and more provinces adjusting mortgage rules.
- PODCAST
- MOST POPULAR