China's residential mortgage interest subsidy starts Oct 1, capped at homes under 120 sqm and 1.5m yuan

China's Ministry of Finance, PBOC and National Financial Regulatory Administration said the residential mortgage interest subsidy takes effect Oct 1, applying to new commercial first-home loans on homes under 120 sqm and priced at 1.5m yuan or less; on a 1.5m yuan loan the subsidy is about 10,000 yuan a year, or 50,000 yuan over five years.

Detected & updated continuously · Source: Nebula