Aug
11
China’s Nanjing, Suzhou Tighten Home-Buying Rules as Prices Soar
By-
Down-payment requirements for second homes are raised to 50%
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Second-tier Xiamen, Hefei raised mortgage requirements earlier
Two cities in China’s eastern Jiangsu provinces unveiled a package of measures designed to stem a surge in property prices, adding to local authorities seeking to cool red-hot increases.
Nanjing, Jiangsu’s provincial capital, and Suzhou, a regional manufacturing base that’s a 30-minute train ride from Shanghai, will raise down-payment requirements for some buyers of second homes to 50 percent, the two city governments said in statements on official microblogs. Down-payment thresholds were 45 percent in Nanjing and 40 percent in Suzhou. Rules for both cities will take effect from August 12…
China’s Nanjing, Suzhou Tighten Home-Buying Rules as Prices Soar
