According to the Shanghai headquarters of the People's Bank of China, individual mortages dropped by 1.06 billion yuan (RM740 million) in the city last month, compared with an increase of 17.3 billion yuan a year ago.
New home loans fell by 510 million yuan, while second-home loans fell by 550 million yuan.
Although sales of homes rebounded in August, it will be a month before mortgage data will catch up and reflect the full picture, the report said.
Shanghai Uwin Real Estate Information Services Co said that in August, sales of new homes jumped by 70% to reach a four-month peak of 730,000 sq m.
TOP PICKS BY EDGEPROP
Suria Residence Breezy Modern Condo facing Pool
Bukit Jelutong, Selangor
Cyberjaya DUAL KEY CONDO FREE FURNISHED+RENOVATED
NEW 1 Sty SEMI D Seksyen U14 Booking RM500 Only
Shah Alam, Selangor
Cyberjaya | Cash Back Up To 35K New Condo
Invest Dual Key Unit GRR 9 years RM280k
Sunway @ New Dual Key Condo Walk To University
Bandar Sunway, Selangor
2.5 Storey Bungalow House Kg Kubu Gajah
Sungai Buloh, Selangor
Mont Kiara | New Condo Below Market Price
Mont Kiara, Kuala Lumpur
Kota Damansara | Freehold Condo Walk To UNIVERISTY
Kota Damansara, Selangor
Petaling Jaya | New Invest Condo Beside University
Petaling Jaya, Selangor
(CMCO Offer) 5R6B Villa Style Super Link, Puchong
Single Storey Terrace House,Taman Selaseh Bt.Caves
Batu Caves , Selangor