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Mortgages rebound in Shanghai
By Feng Jianmin |
September 15, 2011, Thursday
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Print Edition
Print Edition
INDIVIDUAL mortgages rebounded in Shanghai in August even though property transactions declined while home prices remained high.
Banks in Shanghai extended 1.67 billion yuan (US$261 million) of home loans last month, up 270 million yuan from July, the Shanghai headquarters of the People's Bank of China said yesterday.
New loans for new homes were 970 million yuan, and mortgages on existing homes were 700 million yuan.
The China Securities Journal has cited unidentified banking sources as saying mortgages have been curbed due to the government's tight credit control amid rising risks in the property market.
Banks in Shanghai extended 1.67 billion yuan (US$261 million) of home loans last month, up 270 million yuan from July, the Shanghai headquarters of the People's Bank of China said yesterday.
New loans for new homes were 970 million yuan, and mortgages on existing homes were 700 million yuan.
The China Securities Journal has cited unidentified banking sources as saying mortgages have been curbed due to the government's tight credit control amid rising risks in the property market.
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