Top China Housing Official Urges Fresh Property Aid Efforts
- China’s housing minister met with developers amid downturn
- Beijing has pressed lenders to help builders complete projects
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China’s top housing official urged financial regulators and lenders to strengthen efforts to revive the country’s ailing property sector.
In a recent meeting with property developers and builders, Minister of Housing and Urban-Rural Development Ni Hong called for homebuyers who had paid off previous mortgages to be considered as first-time purchasers, the official Xinhua news agency reported Thursday. Up to now, many buyers in big cities who have a mortgage history but don’t currently own a property are subject to higher down-payment rules.