Shanghai's pre-owned home sales reach highest level in four years amid new purchasing incentives - PRESS AI WORLD
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Shanghai's pre-owned home sales reach highest level in four years amid new purchasing incentives

share-iconMonday, January 06 comment-icon3 weeks ago 6 views
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Shanghai's pre-owned home sales reach highest level in four years amid new purchasing incentives

Credited from: SCMP

  • Shanghai's lived-in home sales reached a four-year high in December, with 29,711 transactions reported, a 9.8% increase from the previous month.
  • The rise in sales follows relaxed purchase rules by the Shanghai municipality aimed at reviving the sluggish property market.
  • Despite the incentives, many homeowners offered discounts of 5 to 10 percent to finalize sales amidst a cautious buyer sentiment.
  • New measures include a reduction in mortgage rates to 3.5% - 3.9% and lowered down-payment ratios for first and second-time buyers.
  • While sales figures are promising, experts caution that the market recovery may be temporary due to ongoing economic uncertainties.

For more details, read the full article here.

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Shanghai Home sales Real estate Property market Incentives Mortgage rates Housing demand
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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