China has implemented its most significant reduction in the benchmark mortgage rate in history, in an effort to rejuvenate the struggling property market and stimulate economic growth.
The 25-basis point cut to the five-year loan prime rate (LPR) marks a substantial intervention by authorities, signalling a decisive move to address the challenges faced by the real estate sector.
China s commercial real estate market is expected to attract bargain hunters after prices fell by about 30% from their pre-Covid high, says Colliers International Group.