Home mortgage rates in China rise again

China Plus Published: 2017-09-21 10:31:24
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

China has recently raised interest rates for home mortgages. 

In August, the average interest rate for first-home mortgages was 5.12%, up 2.47% month-on-month. 

It was the eighth consecutive monthly increase this year. Some banks have even halted home loans.

Meanwhile the contribution of real estate to China's GDP growth was 6.2% in the first half of 2017, down from 8.2% during the same period last year.

Statistics also show that home prices in 15 major cities have declined year on year, ranging from 1.3% to 6.6% in August.

For more on the issues of property markets and government policies, the Beijing Hour’s Shane Bigham spoke earlier with Cao Can, CRI's financial analyst.

Related stories

Share this story on

Most Popular