Starting Tomorrow: China Lowers Down Payment on Second Homes

China has lowered the down payment on second homes from 30% to 20% for home buyers who tap the public housing fund.

In order to further improve the housing fund individual housing loan policy, to support housing demand reasonable deposit workers, to have a corresponding housing units and home loans have been cleared of households, in order to improve the living conditions apply for housing provident fund loans to buy housing commission again, the minimum down payment the proportion of funds decreased from 30% to 20%. Beijing, Shanghai, Guangzhou and Shenzhen in the national unity policy, based on local realities, the independent commission decided to apply for housing provident fund loans down payment of the purchase of second homes.

iFeng: 公积金贷款购二套房最低首付由30％降至20％