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Prices in many cities have risen by more than a fifth, as
China's property market has roared back this year after a
sluggish 2015.
The cities of Nanjing, Suzhou, and Hefei in the wealthy Yangtze
Delta region around Shanghai are raising to 50 percent the
downpayment required on a second home if the buyer already has
another mortgage. The previous minimum was 40 percent.
In Suzhou, a new rule requires non-residents seeking to buy a
second home in the city to have paid one year of local taxes and
social insurance, the government said on Thursday in a notice on
its website.
In Hefei, a downpayment of 40 percent is now required for any
second home purchase, besides several conditions for loans to be
issued, media reported on Thursday.
Data from the National Bureau of Statistics show July home
prices rose 29.7 percent on the year in Nanjing, while the
figure for Hefei was 29 percent.
Suzhou is not included in the official home price data, but
private pricing data also shows strong gains.
First-tier cities Beijing, Shanghai, Guangzhou and Shenzhen have
long-standing purchase restrictions, but as higher prices
spread, more smaller cities are expected to clamp down.
(Reporting by Elias Glenn and Yawen Chen; Editing by Clarence
Fernandez)
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