likely increase of the guaranty for real estate credit in order to limit the rise of the price of the lodging
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August 26th, 2008
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The central bank should order to the commercial banks to increase the guaranty for a real estate loan of at least 40% in case of purchase of a second apartment.
The future owners should deposit a first remittance of 40% to buy their second apartment. As for the apartments to commercial use, the first remittance could reach 50%, returned Wednesday Dyed it Daily.
Currently, the minimum guaranty for an apartment of more than 90 square meters are of 30%, against 20% for an apartment of a lower surface.
The central bank also projects to increase this week the interest rate for the home loans to 1.1 times time the rate of reference loan to one year, according to the report.
This measure aims to calm the blaze of the prices of the lodging and the speculation on the real estate market.
Otherwise, the central bank will ask the commercial banks of more to lend to the real estate promoters who accumulate the lands and lodgings in the goal to speculate, according to the Bank of Construction of China.
The prices of real estate in the 70 main Chinese cities progressed of 8.2% in August in relation to the same period of last year, after having won 7.5% in July, according to the numbers of the Commission of state for the Development and the Reform.
The prices of the lodging climbed from 12.1% in Beijing in relation to last year, and of 20.8% in Shenzhen.
Categories: Real Estate
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