Strictly speaking, not only many cities in Shandong actively regulate the property market, but also more than 100 cities across the country have taken measures to loosen the property market, which will also effectively improve the local real estate market. Especially in those cities with high housing prices, because the willingness of local residents to buy real estate is further reduced, we need to take the initiative to lower the threshold of buying a house, and we need to reduce the cost and difficulty of buying a house.
At least eight cities in Shandong have taken measures to regulate the property market.
After entering 2022, at least eight cities in Shandong will take the initiative to take measures to regulate the property market, and relevant measures should be formulated as long as they are aimed at the sale of first-hand houses. Because the real estate sales in many cities are not ideal, some real estate developers are under great financial pressure, and the prices of individual real estates have also dropped sharply, so we need to encourage everyone to buy houses in this way.
The down payment ratio in some cities has been further lowered.
Prior to this, the down payment ratio in many cities was around 30%, which also means that the actual purchase cost of residents will increase accordingly. In order to further encourage everyone to buy a house, the down payment ratio in some cities has dropped to about 20%, and the down payment ratio for second homes has dropped to 30%. In this way, the threshold for residents to buy a house will be further lowered, and the difficulty of buying a house will be reduced accordingly.
Some cities have increased the loan amount and reduced the loan interest rate.
When residents buy a house, because many people will apply for personal housing loans, the loan amount of the relevant cities will be appropriately raised, which will further help everyone successfully apply for personal housing loans. At the same time, some places also lowered the loan interest rate. The actual loan interest rate for residents to apply for individual housing loans can be as low as 4.5% and as low as 4.25%.