Group 1 - The adjustment of the minimum down payment ratio for commercial property loans to no less than 30% is expected to positively impact the real estate market and corporate structure [2][3] - This policy aims to support the de-inventory of the commercial real estate market, which includes shops, office buildings, hotels, and commercial complexes [4][5] - The previous down payment requirements for commercial properties were generally around 50%, with some banks increasing it to 60% or more, which suppressed the purchasing willingness of small investors and enterprises [3][4] Group 2 - The new policy is seen as a tool to stimulate market activity and accelerate the de-inventory process for real estate companies, which have been facing cash flow pressures due to slow sales [5][6] - The adjustment is expected to facilitate the transformation of commercial properties into long-term rental apartments and hotel-style apartments, thereby activating demand for such investments [6] - The reduction in the down payment requirement aligns with the recovery of the consumption market and the service industry, indicating a positive response from the policy side to economic recovery [6]

Core Viewpoint - The People's Bank of China and the National Financial Regulatory Administration have announced a policy adjustment to reduce the minimum down payment ratio for commercial property loans to 30%, aimed at stimulating the commercial real estate market and reducing inventory levels [3][4]. Group 1: Policy Changes - The minimum down payment ratio for commercial property loans, including "commercial-residential mixed-use properties," has been adjusted to no less than 30% from the previous 50% [3]. - Local branches of the People's Bank of China and the National Financial Regulatory Administration will determine the minimum down payment ratio based on local government regulations, adhering to the principle of "differentiated policies" [3]. Group 2: Market Context - As of November 2025, there are 52.34 million square meters of unsold office space and 141.05 million square meters of unsold commercial properties in China [3]. - The commercial property market, which includes shops, office buildings, hotels, and commercial complexes, has been experiencing a slower inventory reduction compared to the residential market [4]. Group 3: Expert Opinions - Experts believe that lowering the down payment ratio will significantly reduce the initial financial burden on buyers, particularly benefiting small and medium-sized enterprises and startups [4]. - The adjustment is seen as a coordinated effort with residential market policies and a targeted response to structural issues in the commercial real estate sector [4]. Group 4: Additional Support Measures - Various cities are providing subsidies for purchasing commercial properties, such as a 50% rebate on deed tax in Wuhan and a 10,000 yuan subsidy for purchases over 100 square meters in Nanning [5]. - The short-term effect of the policy is expected to stimulate demand in active commercial areas, while the long-term recovery of the commercial property market will depend on sustained growth in consumption and the service sector [5].

周末重磅利好来了！ 1月17日，中国人民银行官方微信公众号发布《中国人民银行 国家金融监督管理总局关于调整商业用房购房贷款最低首付款比例政策的通知》（以下 简称《通知》）。 为贯彻落实党中央、国务院决策部署，适应我国房地产市场供求关系的新变化，支持构建房地产发展新模式，现就商业用房购房贷款政策有关事项通 知如下： 中国人民银行新闻发言人、副行长邹澜在1月15日的国新办发布会上透露，将会同金融监管总局将商业用房购房贷款最低首付比例下调至30%，支持 推动商办房地产市场去库存。 此前，商业用房（包括商铺、写字楼、酒店、商业综合体等）的贷款最低首付比例为50%。在具体执行中，部分银行会设置60%甚至更高，且最长贷 款期限通常不超过10年。此次《通知》将首付比例降至30%，直接降低了购买商业用房的门槛，有助于提升商办市场活跃度。 以一套价值200万元的商住两用房为例，按原50%首付比例计算需支付100万元，调整后按30%比例仅需支付60万元，首付资金可减少40万元。这对于 不少一线城市的年轻人来说，明显减轻了"上车"压力。 中指研究院认为，此次央行加大对商办用房的支持力度，也是支持去库存的具体表现，表明中央及监管部门 ...

（原标题：刚刚，利好来了！两部门联合发布） 【导读】央行、金融监管总局：商业用房购房贷款最低首付款比例调整为不低于30% 中国基金报记者 晨曦 中国人民银行新闻发言人、副行长邹澜在1月15日的国新办发布会上透露，将会同金融监管总局将商业 用房购房贷款最低首付比例下调至30%，支持推动商办房地产市场去库存。 此前，商业用房（包括商铺、写字楼、酒店、商业综合体等）的贷款最低首付比例为50%。在具体执行 中，部分银行会设置60%甚至更高，且最长贷款期限通常不超过10年。此次《通知》将首付比例降至 30%，直接降低了购买商业用房的门槛，有助于提升商办市场活跃度。 以一套价值200万元的商住两用房为例，按原50%首付比例计算需支付100万元，调整后按30%比例仅需 支付60万元，首付资金可减少40万元。这对于不少一线城市的年轻人来说，明显减轻了"上车"压力。 中指研究院认为，此次央行加大对商办用房的支持力度，也是支持去库存的具体表现，表明中央及监管 部门对商办项目去库存的重视程度在提升。 相比于住宅市场，商业地产面临着更大的库存积压和流动性难题。国家统计局数据显示，截至2025年11 月末，办公楼待售面积5234万平方 ...

本报记者 李凯旋 北京报道 1月15日，国务院新闻办公室举行新闻发布会，介绍相关货币金融政策支持实体经济高质量发展成效。 在发布会上，中国人民银行新闻发言人、副行长邹澜表示，将会同金融监管总局，将商业用房购房贷款 最低首付比例下调至30%，以支持推动商办房地产市场去库存。 除此之外，邹澜表示，今年降准降息还有一定空间。业内认为，新政有助于带动商办市场去库存，并间 接改善房企资金状况，为家庭资产配置带来新思路，房贷利率也有望进一步走低。 大幅降低首付 《华夏时报》记者注意到，此次商业用房首付比例的调整幅度很大，此前最低首付比例为50%。 商办市场含有多种类型的产品，包括商铺、写字楼、酒店、商业综合体等。上海易居房地产研究院副院 长严跃进直言，商办市场去库存进展长期滞后于住宅市场，且较高的资金门槛抑制了中小投资者与企业 用户的购房意愿。 中指研究院方面同样认为，近几年，商办市场库存量偏大已成行业共识。在此背景下，多个城市出台了 支持政策，以推动商办项目进入营运通道，包括允许存量商办项目改建为租赁住房、支持楼宇兼容等。 例如，2025年，上海发布了关于推进商务楼市更新提升的实施意见。文件明确，允许商务楼宇兼容租赁 ...