Well-informed sources said that the Chinese government is preparing a new package of measures to support the real estate sector after current policies failed to bring about a sustainable recovery in the struggling sector. Bloomberg News quoted the sources as saying that regulatory authorities are considering reducing mortgage payments for certain non-core neighborhoods in major cities, lowering broker commissions on transactions, and easing restrictions on real estate purchases in accordance withguidelines from the State Council (Cabinet).<\/p>\n
The sources added that the government may amend, refine, and extend some of the existing policies in the 16-point rescue package it launched last year, noting that the new plan has not yet been finalized and may undergo some changes.<\/p>\n
A few days ago, an economic report issued by S&P Consulting predicted that the real estate market in third- and fourth-tier cities would continue to show a weak recovery in China<\/a> <\/strong><\/span>Because of the weaknesses in that market.<\/p>\n The foundation said in a statement that the circumstances would be detrimental Real Estate Development Companies<\/a><\/strong><\/span> which focuses its activities on lower-income cities, even though conditions there are approaching those in wealthier cities. Edward Shan, an economic analyst at S&P Global Ratings, said \u201cAccording to our estimates, real estate sales in first- and second-tier cities will see slight growth this year, at a rate of approximately 3%,\u201d while sales in lower-tier cities are likely to decline by approximately 10%.<\/p>\n He added that the shortage of new real estate supply will be the biggest factor limiting growth in higher-tier cities this year.<\/p>\n Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The Chinese government is preparing a new package of measures to support the real estate sector after current policies failed to bring a sustainable recovery to the ailing sector, sources familiar with the matter said. Bloomberg news agency quoted the sources as saying that the regulatory authorities are considering lowering the value of mortgage loan installments 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Impact of Mortgage Payments on Sales<\/span><\/h4>\n
Mortgage Payments<\/span><\/h4>","protected":false},"excerpt":{"rendered":"