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China Overhauls Its Mortgage Rules: 40-Year Terms, Income Caps, and a Shift to Selling Finished Homes
News & Politics

China Overhauls Its Mortgage Rules: 40-Year Terms, Income Caps, and a Shift to Selling Finished Homes

China's central bank and banking regulator extended personal mortgage terms to 40 years, capped monthly payments at half of a borrower's income and told banks to renegotiate with struggling homeowners on August 28. The same day, three ministries moved to make selling finished homes — not off-plan apartments — the national norm, a direct answer to the country's unfinished-building crisis.

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