24.11.2010 - China tightens property market further
From Theasset.com: China launched a fresh round of property tightening measures before National Day on October 1, in response to the recent pick-up in property prices and to prevent a possible buying frenzy during the long holiday. Commercial banks have been ordered to stop lending for third and subsequent home purchases, according to a statement issued by People’s Bank of China (PBOC). Downpayment requirements for first-time and second-time home buyers are raised to 30% and 50% respectively. Banks need to prevent consumer loans from being used for home purchasing..............................................Full Article: Source
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