- Monday 2010-09-06 14:48
September 6 -- A total of 80 percent of banks in Beijing had adjusted the discounts on the home loan interest rates for first-time home buyers from 30 percent to about 15 percent, reports Beijing Times, citing information by Centaline Beijing and other housing agents.
According to some property developers, buyers will only be able to obtain loans of 60 percent of the property's price as compared with 80 percent previously.
According to Zhang Dawei, a director of Centaline Beijing, the ceiling for home loans for buyers of second homes is 50 percent of the property's price while the interest rate
would be 1.1 times the benchmark interest rate.
Shares of Beijing Urban Construction Investment and Development (600266) rose 2.01 percent to trade at 10.68 yuan at 14:23 pm today.
