Local governments are tightening controls over their housing markets to stop prices from rising too fast. Beijing government has suspended approvals on pre-sales of houses with a price of over CNY40,000 per square meter until the end of the year, said sources familiar with the matter. The Shenzhen governemnt also raised downpayment requirements to 70% from the previous 60% for the purchase of second homes at the beginning of this month. (Economic Information Daily)
Posted on: Tue, 05 Nov 2013 00:47:56 +0000
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