News Snapshot:
China is offering mortgages to borrowers as old as 80 as lenders scramble to prop up the country’s beleaguered housing market following strict zero-COVID-19 restrictions. Several lenders across the country have extended their borrowing age in a bid to stimulate growth after property investment slumped by 10 per cent last year, the first drop since 1999. Sales of residential property fell by 14 per cent in January compared with a year earlier, according to data from 40 major cities compiled by China Real Estate Information. Evergrande, one of China’s largest property developers, has been at the centre of the country’s...
