According to the announcement of the People's Bank of China, from the 8th, the interest rate of personal housing provident fund loans will be officially lowered by 0.25 percentage points. In addition, the interest rate of the open market's 7-day reverse repurchase operation has also been lowered by 0.1 percentage point, which is expected to drive the loan market quotation rate (LPR) to fall by 0.1 percentage point. What impact will this have on the real estate market?

  In a commercial housing project in Daxing District, Beijing, a real estate consultant is calculating the changes in the monthly mortgage payment for the home buyer Mr. Fu after the interest rate cut. Mr. Fu has seen an improved housing of about 110 square meters before, with a total price of about 6.41 million yuan. Based on a 20% down payment, it requires a loan of about 5.13 million yuan.

  He Shulan, a real estate consultant for a commercial housing project in Daxing District, Beijing: The provident fund policy issued on the 7th has lowered the interest rate by 0.25 percentage points, which is 2.6%, and the interest rate can be saved by more than 75,000 yuan.

  This new house project is a three-star green building with low energy consumption. According to Beijing's policies, using provident fund loans to purchase can increase the loan amount by 400,000 yuan.

  Qin Mengyao, sales manager of a commercial housing project in Daxing District, Beijing: Many customers called the salesperson as soon as possible to calculate how much interest they would expect to save when the loan interest rate declined.

  In addition to targeting green buildings, Beijing has also introduced provident fund loan support policies for purchasing housing in old communities that have been renovated, extending the loan term, covering more than 1.1 million old communities in Beijing. By the end of March this year, Beijing has issued 7,469 provident fund loans to support the renovation of old communities and 9,474 green building provident fund loans.

  Li Tao, deputy director of the Beijing Housing Provident Fund Management Center: The interest rates for existing loans issued before May 8 will be implemented in accordance with the new policy interest rates starting from January 1, 2026. The Beijing Provident Fund Center will focus on the implementation of existing policies and the introduction of incremental policies, and further play the role of housing provident fund.

[Editor in charge: Zhang Qiaosu]