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By UOB KayHian On May 17, China rolled out a package of new measures to support the property market. Three of those were on the demand side. Minimum down payment ratios for first and second homes were lowered from 20% and 30%, respectively, to 15% and 25%. The mortgage rate floors for first and second homes were removed.
BEIJING - China cut the minimum down payment rate for first-time homebuyers recently and suggested the government could buy up commercial real estat
Hong Kong and Shanghai stocks rallied Friday after China unveiled its most wide-ranging measures to support the country's battered property sector, sending real estate firms soaring.
Stocks ticked higher Thursday, pushing the Dow Jones Industrial Average above 40,000 for the first time, as a banner year on Wall Street continued.