Consumer confidence key to China’s property sector package success

China’s beleaguered property sector has received a welcome boost with a raft of new measures implemented by the central government aimed at increasing purchases.  

In a bid to curb the rate of decline, the government introduced a package of stimulus measures on May 17. For consumers, these saw the minimum downpayment required by first-time buyers reduced from 20 per cent to 15 per cent. Minimum mortgage rates have been removed.