Gelonghui May 17 | Fangduoduo (DUO.US) surged 35% to US$0.54 before the market opened.
In terms of news, the central bank introduced three policies today to stabilize the property market.
The central bank announced the cancellation of the lower limit on commercial personal housing loan interest rates for first and second homes at the national level; starting from May 18, 2024, it will lower the personal housing provident fund loan interest rate by 0.25 percentage points.
The Central Bank and the State Administration of Financial Supervision announced that the minimum down payment ratio for commercial loans for first-time homes will be adjusted to no less than 15% and for second homes, no less than 25%.
In addition, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, pointed out that relevant local governments should proceed from reality and properly dispose of the idle stock of residential land that has been transferred by taking back, purchasing, etc., as appropriate, to help real estate companies with financial difficulties solve their difficulties; there is a large inventory of commercial housing. Cities and governments may order and purchase some commercial houses at reasonable prices as appropriate to use as affordable housing.
The real estate market made a big move, and Fangduoduo soared 35% before the market opened.
Gelonghui May 17 | Fangduoduo (DUO.US) surged 35% to US$0.54 before the market opened
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