Thu. Sep 21st, 2023
    Xinyuan Real Estate Announces Optimized Real Estate Regulations in Zhengzhou, China

    Xinyuan Real Estate Co., Ltd. has announced the optimization of regulations in the real estate sector in Zhengzhou, China. The company primarily focuses on property investments in this area. The Zhengzhou Housing Compensation Office and Real Estate Administration, along with four other administrative authorities, issued a notice titled “Additional Support for Reasonable Housing Demand.” This notice effectively lifts the restrictions on property buying and selling in Zhengzhou.

    The new regulations eliminate existing restrictive policies, including the cancellation of the home purchase restrictions within the second ring of Zhengzhou and the holding period requirement when selling properties. These changes aim to support the housing demands of local residents, both first-time homebuyers and non-first-time buyers.

    The notice also reduces the minimum down payment requirements for mortgage loans. The new minimum down payment requirements will be applicable to both new constructions and resale properties. The minimum down payment for first-time homebuyers is adjusted to no less than 20% of the total purchase price, while for non-first-time buyers, it is adjusted to no less than 30%.

    These regulatory changes follow similar policies implemented in other major cities in China, where Xinyuan Real Estate holds significant property investments. Cities like Beijing, Shanghai, Guangzhou, Shenzhen, and more have reduced mortgage interest rates and relaxed buying and selling restrictions to stimulate the real estate market.

    Currently, Xinyuan Real Estate has approximately 2.91 million square meters of properties under construction and planning in Zhengzhou, accounting for 55% of the company’s total gross area of properties under construction and planning in China.

    The company will continue to monitor government policies and make adjustments to its sales strategy to capitalize on the positive impact on the real estate market.

    – Xinyuan Real Estate Co., Ltd. Press Release