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Strained Chinese cities struggle to pay home buying subsidies

Amy Wang was counting on a 100,000 yuan ($13,800) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. "I feel under a lot of pressure," said Wang, who works in electronics manufacturing, and bought the bare shell of her apartment, without floors, interior walls or other fittings - which is common in China. Weifang, with a population of more than 9 million and an economy larger than Croatia's, and dozens of other Chinese cities, have promised subsidies and other incentives to homebuyers to prop up the ailing property sector.

Strained Chinese cities struggle to pay homebuying subsidies

Strained Chinese cities struggle to pay home buying subsidies, ET RealEstate

The 30-year-old now pays 6,000 yuan of her 8,000 monthly salary on the mortgage for the 1.1 million yuan apartment and another 1,800 yuan to rent another one, relying on her parents for other basic expenses.

Strained Chinese cities struggle to pay home buying subsidies

Amy Wang was counting on a 100,000 yuan subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money,.

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