bullish

Beike (BEKE US): New Government Measures Aimed at Promoting New Home Sales Warrants Attention

361 Views17 May 2024 19:34

SUMMARY

Today, multiple cities in China introduced property stimulus measures to encourage buying new over existing homes. These policies also discourages people from selling their homes.
Past measures encouraged home purchases by lowering mortgage rates and down payments, resulting in an increase in existing home transactions, because new home has developer default risks.
This time, we saw for the first time, local Chinese governments introduced supplemental policies to guide new home purchases. We believe more of such measures can be on its way.

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