BEIJING, Aug 20 (Reuters) – China’s commercial hub of Shanghai will ease some property policies from Friday, including mortgage, housing provident fund and purchase subsidy measures, in a bid to shore up demand, city authorities said on Thursday.
For second homes bought outside the city’s outer ring expressway, the minimum down payment for commercial mortgages will be cut to no less than 15% from 20% earlier, the authorities said in a notice.
Temporary subsidies of up to 80,000 yuan ($12,000) are also on offer for those selling second-hand homes after buying new homes outside the expressway, they added.
($1=6.7239 Chinese yuan renminbi)
(Reporting by Ethan Wang and Ryan Woo; Editing by Clarence Fernandez)
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