People's Bank of China and China Banking Regulatory Commission, Circular on Issues Relevant to Revising the Policy on Personal Housing Loans
中国人民银行、中国银行业监督管理委员会关于调整个人住房贷款政策有关问题的通知
February 16, 2016 | BY
Susan Mok &clp articles &China further relaxes housing purchase restrictions in non-top-tier cities.
Issued: February 1 2016
Main contents: In cities that have not implemented housing purchase restriction measures, the minimum down payment percentage for commercial personal housing loans to resident households purchasing their first ordinary residential unit is, in principle, 25%, with any region permitted to lower the same by up to 5%. For a resident household that owns a residential unit and has not fully discharged the corresponding housing loan but applies for a further commercial personal housing loan to purchase an ordinary housing unit with a view to improving its living conditions, the minimum down payment percentage is revised to not less than 30%.
In cities that have implemented housing purchase restriction measures, the policy on personal housing loans shall be handled in accordance with the existing provisions (Article 1).
Related legislation: Circular on Issues Relevant to Further Improving the Differential Loan Policies on Residential Premises; Circular on Revising the Percentage of the Minimum Down Payment When Purchasing Residential Premises with a Personal Housing Loan from the Housing Reserve; Circular on Issues Relevant to Improving the Differential Loan Policies on Residential Premises; Circular on Continuing to Duly Regulate and Control the Real Property Market; and Circular on Issues Relevant to Improving the Regulation and Control of the Real Property Market
clp reference:4110/16.02.01Issued: February 1 2016
Main contents: In cities that have not implemented housing purchase restriction measures, the minimum down payment percentage for commercial personal housing loans to resident households purchasing their first ordinary residential unit is, in principle, 25%, with any region permitted to lower the same by up to 5%. For a resident household that owns a residential unit and has not fully discharged the corresponding housing loan but applies for a further commercial personal housing loan to purchase an ordinary housing unit with a view to improving its living conditions, the minimum down payment percentage is revised to not less than 30%.
In cities that have implemented housing purchase restriction measures, the policy on personal housing loans shall be handled in accordance with the existing provisions (Article 1).
Related legislation: Circular on Issues Relevant to Further Improving the Differential Loan Policies on Residential Premises; Circular on Revising the Percentage of the Minimum Down Payment When Purchasing Residential Premises with a Personal Housing Loan from the Housing Reserve; Circular on Issues Relevant to Improving the Differential Loan Policies on Residential Premises; Circular on Continuing to Duly Regulate and Control the Real Property Market; and Circular on Issues Relevant to Improving the Regulation and Control of the Real Property Market
clp reference:4110/16.02.01This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now