Construction: Public housing fund
(Shanghai Daily)
Updated: 2006-05-11 14:00
Shanghai's public housing fund center quietly rolled out more preferential
policies for home buyers seeking mortgage loans in order not to kindle direct
competition with commercial banks.
Buyers of three new developments and all second-hand homes in Pudong New Area
were the first batch of beneficiaries from the new policy. It allows them to
apply for an additional loan of 1,000 yuan (US$125) per square meter to
decorate.
However, home buyers did not know about the additional loan until three
developers advertised apartments at a housing exhibition held during the May
holiday.
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