China Property Shares Soar After Big Cities Ease Homebuying
- Moves come after policymakers unveil aggressive home stimulus
- Central bank also moves to lower borrowing costs for mortgages
Shanghai reduced downpayment ratios to a minimum of 15% for first-time buyers.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
Chinese property shares rallied after three of the country’s largest cities eased rules for homebuyers, following through on the central government’s latest efforts to prop up the embattled real estate sector.
A Bloomberg gauge of Chinese property stocks jumped as much as 14% on Monday morning after Shanghai, Shenzhen and Guangzhou relaxed homebuying curbs. The central bank on Sunday also said it will allow refinancing of mortgages.