2014-04-14

Rumor Says Fujian Will Introduce 10 Measures To Rescue Real Estate Market

As of yet there's been no official denial and reports first hit last night. A video clip of the report (in Chinese) is here.

The important measures are the easing of buying restrictions and cheaper credit.

传福建出台房地产“救市”十措施 放松限购

It's unclear if this list below is all 10 items or not. Google Translated with some spot cleanups.
According to Reporters available information, "rescue" Ten measures include the following:
adjustment standards of ordinary housing, will change from price to area, identified as an area of 144 square feet or less;
relax buying restrictions, will not include existing homes;
the provincial property tax and the purchase of insurance, adjusted to six months, buyers have to pay off the loan number is not included in the loan,
first home specifically does not include self-built housing , housing reform, inheritance, housing and other housing and Resettlement;
increase housing loans to support the first time home buyers, executed in the first suite loan rate loan rates discounted by 15%, the first home transfer tax but by 50%;
increase the real estate credit support, credit scale and linked to real estate investment and sales volume, support the protection of affordable housing, to support the backbone of the leading real estate companies;
advance sale price is no longer intervene.

The story goes on to note that Li Keqiang opened the door to some measures:
The researchers believe that the Premier Li Keqiang has made ​​clear in his government work report in March this year, the overall policy for the real estate industry in 2014 "for different cities classified regulation, increase small and medium size housing and common property housing supply, curb speculative investment demand and promote the sustained and healthy development of the real estate market. " Therefore, the difference of regulatory policies is inevitable between different cities this year. Against this backdrop, Fujian introduction of relevant policies, or will be a high probability event.

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