Shanghai Eases First Home Down Payment: A Boon for Buyers

Shanghai has reduced the minimum down payment for first-time home buyers from 30% to 20%. For second home purchases, the down payment is now 30% in suburban areas and 35% in the rest of the city. This change aims to boost the local real estate market.

Chinese commercial hub Shanghai lowered the minimum down payment for first home purchases to 20%, the local government said in a statement on Monday, down from 30%.

The city also adjusted the minimum down payment for second home purchases to 30% for suburban areas and to 35% for the rest of the city.