Beijing and other big cities lead housing recovery

Residential buildings in Beijing, China, on Wednesday, May 29, 2024. China's capital city Beijing will allow families to buy one more home in non-core areas, as even the nation's largest cities are buckling under the pressure of a record real estate downturn. Photographer: Andrea Verdelli/Bloomberg

SHANGHAI: Cuts to down payment ratios and mortgage rates in Beijing, along with the policy optimisations in some of China’s largest cities, will create a better environment for homebuying sentiment in the second half of the year, help boost market confidence and stabilise the entire property market, say realty experts.

After Beijing eased home buying requirements last Wednesday, Shanghai and Guangdong province’s Shenzhen and Guangzhou announced their own comparable policies the following day.