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Non-local residents in Zhuozhou city, less than half an hour
away by high-speed train from Beijing, will be restricted to
purchasing a maximum of one home and required to make a down
payment of at least 30 percent, according to a local government
document released on Wednesday.
Local residents in Zhuozhou will be limited to buying two homes
and required to put down at least a 50 percent down payment on
their second home.
Similar but less restrictive measures were imposed in Lianjiang,
less than half an hour away by fast train from the southern city
of Fuzhou, Chinese media reported on Wednesday.
The Lianjiang government made it more difficult for people to
buy properties by introducing measures including raising the
down payment ratio for first-home buyers borrowing from the
housing fund to 30 percent.
Chinese President Xi Jinping said on Tuesday the country will
keep its property market stable by guiding real estate
investment behaviors and market expectations.
Prices of new homes in China surged 12.4 percent last year, the
fastest rate since 2011, prompting more than 20 cities to
introduce property curbs to cool the market since October.
(Reporting by Yawen Chen and Sue-Lin Wong; Editing by Subhranshu
Sahu)
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