China told its central bank to raise down-payment requirements and interest rates for second-home mortgages in cities with “excessively fast” price gains as authorities step up efforts to cool the property market.
The central banks’ regional branches may implement the measures in accordance with the price-control targets of local governments, the central government said in a statement on its website today. Cities facing “relatively large” pressure from rising housing prices must further tighten home-purchase limits, according to the statement.
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Zhang Dingmin, Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/m0JRnceGAcg/
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