Ningde, Fujian: From September 1, the down payment ratio for the first home is adjusted to 20%

On the evening of September 4, Fujian Ningde City Housing and Urban-Rural Development Bureau and other seven departments released “Several Measures for Promoting High-Quality Development of Real Estate in Central Urban Areas”. In terms of promoting rigid and improved housing consumption, Ningde City will implement the policy of “easing mortgage rules for first-time home buyers”. When a resident family (including the borrower’s spouse and minor children) applies for a loan to purchase commercial housing, family members who don’t have a complete set of housing in the local area can enjoy banks’ preferential loans for first-home purchases. For those who apply for a housing provident fund loan or a commercial bank loan to purchase their first home, the down payment ratio can be 20%. In addition, the government will also implement the tax reduction and exemption policy for the purchase of improved housing, encourage groups with the need for rigid and improved housing to enter the market, and reduce or exempt Value-added tax for individual sales of commercial housing owned by sellers for 2 years and above.