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Chinese authorities are lowering the required downpayment for second home purchases to 40-percent from 60-percent to prop-up the housing market.
中国当局将二套房最低首付款由60%降到40%以扶持房地产市场。
The minimum downpayment ratio for first-time home buyers who use the government's housing fund is also being reduced from 30-percent to 20-percent.
At the same time, if buyers use the housing fund, the ratio for a second home purchase will remain at 30 percent, provided all their loans are paid off on the first house.
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