Thirty-four cities, mostly in the second- and third-tier, are now offering a rate below the key level of 4.1 per cent. Photo: EPA-EFE
Thirty-four cities, mostly in the second- and third-tier, are now offering a rate below the key level of 4.1 per cent. Photo: EPA-EFE
China property
Business /  China Business

Chinese cities cut mortgage rates for first-time buyers to lowest since 2019 in bid to revive property market

  • The average mortgage rate for a first home in 103 cities fell to 4.04 per cent in February, according to the Beike Research Institute
  • The biggest drop came from second-tier cities, which on average cut their rate by 8 basis points to 3.99 per cent

Elise Mak
Elise Mak in Beijing

Updated: 5:35pm, 20 Feb, 2023

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Thirty-four cities, mostly in the second- and third-tier, are now offering a rate below the key level of 4.1 per cent. Photo: EPA-EFE
Thirty-four cities, mostly in the second- and third-tier, are now offering a rate below the key level of 4.1 per cent. Photo: EPA-EFE
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