HONG KONG Oct 7 Two cities in China's southern
Guangdong province and the southeast city of Fuzhou imposed new
home buying restrictions on Thursday aimed at preventing a
The tightening measures imposed in Zhuhai, Dongguan and
Fuzhou included raising downpayment requirements and restricting
owners of two properties from buying more.
In the previous six days, 14 Chinese cities have imposed
similar administrative restrictions to curb property
But real estate agents said that readily available, cheap
mortgages and strong demand are likely to keep China's property
market rising, even if restrictions dampen sales and prices over
the short term.
The three cities on Thursday raised downpayment requirement
for second-home buyers to 40 percent from 30 percent, while
Fuzhou raised the requirement even for first-time buyers if they
are not local residents.
Dongguan also restricted families who have two or more
properties from taking out mortgages or buying apartments of any
size, while the other two still allow buyers to acquire
apartments larger than 144 square meters.
In Guangdong province, first-tier city Guangzhou already has
home purchase restrictions in place while Fushan imposed new
curbs on Oct 4.
(Reporting by Clare Jim; Editing by Eric Meijer)