(Reuters) – China may allow homeowners to temporarily halt mortgage payments on stalled property projects without incurring penalties, Bloomberg News reported on Monday, citing people familiar with the matter.
The report comes as a growing nationwide homebuyers’ boycott has rekindled investor concerns about the China’s slumping property sector, which accounts for a quarter of the economy, and has raised fears banks could face hefty writedowns.
(Reporting by Hazra Nivedita in Bengaluru; Editing by Jon Boyle)
