China megacities ease homebuying rules to boost property market …C0NTINUE READING HERE >>>
China’s teetering real estate market long accounted for around a quarter of its economy and experienced dazzling growth for two decades.
Photo: Hector RETAMAL / AFP
Source: AFP
Three Chinese megacities on Monday eased restrictions on buying homes and Beijing’s central bank said it would ask financial institutions to lower mortgage rates, as the country seeks to pull itself out of a housing slump.
The measures are the latest in a raft of pledges out of Beijing since last week aimed at kickstarting the world’s number two economy.
The teetering property sector has long accounted for…
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