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  • August 30, 2014
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  1. State banks cut rates for first-home buyers

    Posted Mar 14th 2012, 12:00am

    ... George Chen in Shanghai george.chen@scmp.com The mainland's big state banks and their smaller rivals in Shanghai have rapidly revived efforts to attract local mortgage clients, offering first-home buyers discount rates much lower than last year's industry average. The move comes at the same time as cashed-up Shanghai locals use a loophole in the mortgage approval ...

  2. Property agents feel the pain as government cooling moves bite

    Posted Mar 06th 2006, 12:00am by Staff Reporter

    ... the policies went too far, or not far enough. The central bank led the campaign by raising mortgage rates. It said more than US$2.4 billion worth of foreign capital had poured into the nation's ... the market,' he said. Computer technician Johnny Zhao is one of hundreds of buyers at a Shanghai residential complex who has stopped mortgage payments in an effort to back out of a purchase contract ...

  3. Seeing through China's new property bubble

    Posted Aug 07th 2009, 12:00am by Tom Holland

    ... of financial collapse. Then the authorities came to the rescue and opened the credit taps. Suddenly, developers had access to cheap bank loans again, and buyers were able to get mortgages once more. ...

  4. Flow of hot money to Shanghai slows

    Posted Feb 18th 2006, 12:00am by Mark O'Neill

    ... Mark O'Neill in Shanghai Banking regulator warns of rising mortgage defaults as housing prices decline on weakening demand As Shanghai property prices continue to fall, the banking regulator has warned of a rising number of mortgage defaults while reporting a drop in the secondary market and purchases by non-Shanghai people. The report by the Shanghai office of the China ...

  5. Surge in inflation confounds developers

    Posted Mar 12th 2008, 12:00am by Denise Tsang

    ... strategies as anti-speculation measures continued to bite and developers braced for fall-out from the United States subprime lending crisis, he said. 'Many people underestimate the damaging ... tightened controls over mortgage lending to second-home buyers and taken several other initiatives to restrict the use by developers of pre-sale proceeds to fund new projects. Mr Wang conceded ...

  6. Property - Hong Kong & China - MAINLAND

    H7N9 bird flu not behind slowing Shanghai home sales, agents say

    Posted Apr 10th 2013, 12:00am by Sandy Li

    ... than 98,000 poultry, and all live poultry markets have been shut. But Lau said a decline in home sales in Shanghai was more likely the result of the recent tightening of mortgage loan ... unveiled further property controls last week after being directed by the central government in March to calm real estate markets. The controls include strict checks on mortgage qualifications ...

  7. Boom may turn to bust as 'mortgage slaves' take action

    Posted May 15th 2006, 12:00am by Mark O'Neill

    ... years to protest against prices that have become unbearable. 'Are we to become mortgage slaves for the rest of our lives,' Mr Zou wrote. Within three days, 4,000 had signed up to his ... where the prices are highest cannot afford to buy new homes. The word Mr Zou used- mortgage slave (fangnu)- has entered the popular vocabulary. It means spending more than 50 per cent of our ...

  8. Bank mortgages can be a problem

    Posted Dec 19th 2004, 12:00am by Chris Oliver

    ... upgraded fairly recently, requiring only superficial work. Buyers should be aware banks are rolling back mortgage ratios after steep price appreciation in recent years, while some refuse to lend against older buildings altogether. Those that do provide mortgages are believed to offer financing of up to 50 per cent of the purchase price, for both local and foreign buyers. In general, owing ...

  9. Follow home loan rules, Shanghai warns banks

    Posted Jul 20th 2009, 12:00am by Staff Reporter

    ... to local lenders, asking them to strictly review mortgage applications to ward off potential defaults. Shanghai followed Guangzhou and Shenzhen in curbing the property buying euphoria displayed ... to secure more loans to fund house buying, betting on further gains in home prices. Shanghai banks' total mortgage loans in the first half of this year hit 29.3 billion yuan (HK$33.3 billion), ...

  10. Business - Companies - PROPERTY

    Soho China sets record for Shanghai site value

    Posted Apr 26th 2013, 12:00am by Yvonne Liu, Kwong Man-ki

    ... in the January-March period, up 16.4 per cent from a year ago, according to central bank data. Loans had grown at a slower clip of 12.8 per cent in the preceding quarter. Mortgage loans rose 17.4 per cent ...




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