CCY Real Estate Weekly

(May 16, 2022)

On May 15, the People's Bank of China adjusted the lower interest rate limit for the first home loan to no less than 20 basis points lower than the market quoted interest rate for the corresponding term loan, while keeping the interest rate for the second home loan unchanged.

On May 11, the Zhengzhou Covid-19 Prevention and Control Headquarters issued a notice on adjusting the epidemic prevention and control measures in the main urban area. Areas other than the restricted area can restore normal work order and production and operation order. Jianye Real Estate has actively resumed work and resumed production at the Zhengzhou Project Sales Center.

On May 11, Jiyuan City issued a consultation on measures to promote the steady and healthy development of real estate, with the aim of guiding financial institutions to increase personal loan amounts, speed up loans, and reduce loan interest rates. Comments were raised to adjust the maximum loan amount for an provident fund loan to 300,000 yuan for a single person, and the maximum loan amount for both husband and wife to be 450,000 yuan. Individuals who buy a home, whether for the first or multiple units, have the minimum down payment for the home reduced to 20%. Among them, the measures also support housing enterprises to reduce land bid security deposits.