Notice of the People's Bank of China and the State Administration of Financial Supervision on adjusting the minimum down payment ratio of individual housing loans
People's Bank of China Shanghai Headquarters, branches of all provinces, autonomous regions, municipalities directly under the Central Government and cities with separate planning status; the supervision bureaus of the State Administration of Financial Supervision and Administration; Commercial banks in various countries, Postal Savings Bank of China, joint-stock commercial banks:
In order to implement the decisions and arrangements of the CPC Central Committee and the State Council, to adapt to the new changes in the supply and demand relationship of the mainland real estate market, the new expectations of the people for high-quality housing, and to promote the steady and healthy development of the real estate market, the relevant matters of the personal housing loan policy are hereby notified as follows:
For households that take out loans to purchase commercial housing, the minimum down payment ratio for commercial personal housing loans for the first house is adjusted to not less than 15%, and the minimum down payment ratio for commercial personal housing loans for second houses is adjusted to not less than 25%.
On this basis, the provincial-level branches of the People's Bank of China and the dispatched agencies of the State Financial Supervision and Administration independently determine the lower limit of the minimum down payment ratio for commercial personal housing loans for the first and second houses in each city under their jurisdiction in accordance with the requirements of urban regulation and control and in accordance with the principle of city-specific policies.
People's Bank of China State Administration of Financial Supervision and Administration May 17, 2024
Source: Central Bank website Editor: Hang Qi Editor: Lai Ting Review: Lu Hongmei
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