Econchart chinahotproperty 22042010
1 like788 views
The Chinese government ordered harsh new measures to curb the property bubble in Beijing, including requiring 50% down payments for second homes and 30% down payments for first-time buyers. Commercial banks can now refuse loans to those unable to prove they have lived in the city for at least a year where they want to purchase property. However, Beijing's efforts to cool the overheated housing market have not been effective so far.
Econchart chinahotproperty 22042010
- 1. Beijing fights the property bubble State Council orders harsh measures: 50% down payment on second homes, 30% down payment for first-time home buyers Commercial banks can now refuse loans to borrowers who are unable to prove they have lived for at least 1 year in the city where they want to buy Beijing卒s efforts to cool the housing market have not worked so far 11.7 12.0 10.0 8.0 6.0 4.0 CHINA 2.0 0 Price changes y-o-y in % -2.0 2006 2007 2008 2009 2010 April 23, 2010 Reprint me for 20 / Translation 30 / Subscription welcomed mgaertner@shaw.ca GAPA NEWS