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 percent from 20 percent earlier, the authorities said in a notice.
Temporary subsidies of up to 80,000 yuan (HK$93,294.46) are also on offer for those selling second-hand homes after buying new homes outside the expressway, they added.
Reuters
