Beijing Cuts Down Payment on Second Homes to 20%

Government policy moves aren't inspiring confidence. Beijing has now slashed the down payment on second homes from 30% to 20% for buyers tapping the public housing fund. This change has already been implemented in many lower tier cities as of September 1. I covered this here: Starting Tomorrow: China Lowers Down Payment on Second Homes. The whole country was to adopt the rule, but first-tier cities were allowed leeway since the real estate market is much stronger there. Or at least was, if this policy decision signals anything.

iFeng: 京公积金二套房贷款最低首付由30%降至20%

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