Home buyers in Shenzhen will soon be able to use the housing provident fund of their families to pay for the mortgage, said the housing authority of the city Wednesday.
This came after Shenzhen, one of the most unaffordable cities in China, saw the worst second-hand home market turnover in 15 years. Only 9,965 second-hand homes were sold in the first half of this year, a 65 percent decrease compared with a year ago. The volume of new homes also went down by nearly 40 percent.
