China unveiled a barrage of policy changes to goose its real estate market.
==> Effective November 1, the down payment requirement for home buyers will be lowered from 30% to 20%.
==> China suspended tax duties on the sale/purchase of homes and ended a value-added tax on individual home sales.
==> Home buyers will be able to get mortgages at 70% of benchmark interest rates, compared to 85% previously,
China Vanke, China’s largest real estate developer, gained 4.4%, China Overseas Land upped 8.1%, and Poly Real Estate Group surged 6.4%.
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