Shanghai's new mortgages up
By Zhang Fengming |
December 15, 2009, Tuesday
|
Print Edition
Print Edition
SHANGHAI posted a rise in new individual mortgage loans in November as home buyers rushed to buy homes to take advantage of a preferential policy, the Shanghai headquarters of the central bank said yesterday.
New individual mortgages grew by 10.74 billion yuan (US$1.57 billion) in November, while they fell 124 million yuan a year ago, the Shanghai headquarters of the People's Bank of China said yesterday. There was an increase of 158 million yuan in mortgage loans in November compared with October's.
Mortgage loans were the main contributor to the new loan total last month in Shanghai. Total loans rose 14.28 billion yuan last month, up 3.59 billion yuan from a year earlier.
In 2010, China will resume the 5.5 percent business tax on second homes bought within five years. China eased the time requirement to two years this year to shore up the market amid the financial crisis. However, with rising property prices, the tighter requirement would be resumed next year, driving home buyers to accelerate their purchases to enjoy the soon-to-end looser preferential policy.
China's urban housing prices rose in November by the most in 16 months as buyer sentiment remained strong despite home becoming more costly. Housing prices in 70 major cities jumped 5.7 percent last month from a year ago.
Household savings shrank 16.68 billion yuan last month against a rise of 28.03 billion yuan a year ago.
New individual mortgages grew by 10.74 billion yuan (US$1.57 billion) in November, while they fell 124 million yuan a year ago, the Shanghai headquarters of the People's Bank of China said yesterday. There was an increase of 158 million yuan in mortgage loans in November compared with October's.
Mortgage loans were the main contributor to the new loan total last month in Shanghai. Total loans rose 14.28 billion yuan last month, up 3.59 billion yuan from a year earlier.
In 2010, China will resume the 5.5 percent business tax on second homes bought within five years. China eased the time requirement to two years this year to shore up the market amid the financial crisis. However, with rising property prices, the tighter requirement would be resumed next year, driving home buyers to accelerate their purchases to enjoy the soon-to-end looser preferential policy.
China's urban housing prices rose in November by the most in 16 months as buyer sentiment remained strong despite home becoming more costly. Housing prices in 70 major cities jumped 5.7 percent last month from a year ago.
Household savings shrank 16.68 billion yuan last month against a rise of 28.03 billion yuan a year ago.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
