BEIJING, March 17 The Beijing municipal
government said on Friday it has raised the downpayment
requirement for second home purchases in the city to at least 60
The new rule goes into effect from March 18, according to a
notice on the website of the Beijing housing commission. The
news was first reported by Beijing Youth Daily.
Beijing last raised the mininum second-home down payment to
50 percent on Sept. 30 in an effort to tame fast-rising home
Beijing has also suspended issuance of individual mortgage
loans for terms of more than 25 years, the notice said.
(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)