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2026-08-20 16:14:24 Shanghai announced a new round of property market relaxation measures, including lowering the down payment ratio for second-home purchases outside the outer ring road to 15% from 20%, and introducing trade-in home purchase loan subsidies. Eligible buyers can receive subsidies of up to RMB50,000 per unit, while those selling second-hand homes within the outer ring road can receive an additional RMB30,000 subsidy, bringing the total maximum subsidy to RMB80,000. Morgan Stanley said in a report that the new measures may help destocking of new projects in non-core areas and boost land sales, but their effect on lifting overall home sales could be limited. The broker said the lower down payment ratio implies buyers will take on higher leverage and larger mortgage repayments. Under a downbeat macro environment, residents' willingness to increase borrowing remains limited. Also, the home purchase subsidies are relatively small, while eligible new projects are located outside the outer ring road, making them less attractive to upgraders in core areas, opined the broker. As for the acquisition of second-hand homes and urban renewal, the source and scale of funding remain major bottlenecks. ~ AASTOCKS Financial News Website: www.aastocks.com | |