The Ministry of Finance will provide an annual 1 percentage point subsidy starting Oct. 1 for loans up to 1 million yuan over a maximum of five years. Qualifying buyers must purchase units priced under 1.5 million yuan with a total area not exceeding 120 square meters. The ministry estimates borrowers can save up to 50,000 yuan in cumulative interest during the policy's tentative one year implementation period.
Wednesday, October 21, 2026
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China Property Stocks Fall on First Time Homebuyer Mortgage Subsidy
Global Markets21 days ago
The CSI 300 Real Estate Index dropped 8% in morning trade and the Hang Seng Mainland Properties Index fell 1.3% after Beijing unveiled interest subsidies for new mortgages. Nomura analysts estimate the program will only save 20 billion to 30 billion yuan in interest payments per year, suggesting the measure may be insufficient to stabilize the country's struggling property market.
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