Analysis of the Impact of Local Implementation Plans under the Easing of Mortgage Rules on the House Purchase Intentions of First-Time Homebuyers: A Case Study of Shenzhen

Abstract

The real estate market is an important pillar of China's economy, and in recent years, housing mortgage lending policies have been gradually loosened to promote residents' willingness to buy homes. However, it is not clear how the loosening of the policy will have a real effect on the willingness of residents to buy their first home. Therefore, this paper investigates how policy relaxation affects the willingness of Shenzhen residents to purchase their first home by collecting questionnaires from Shenzhen residents and conducting binary logistic analysis on the data. The study found that although the strength of the policy incentives will significantly promote the willingness of residents to buy a home, however, this policy relaxation for the first suite of residential willingness to buy a home did not have a significant effect. Ultimately, this study provides some recommendations for the subsequent development of relevant policies.