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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (588940)10/6/2010 11:06:33 AM
From: bentway  Read Replies (1) of 1578705
 
China ordered banks to demand a down payment of at least 30 percent from all mortgage applicants and to suspend loans to buyers of third homes on September 29. Following the move, Shenzhen, one of the country's top-tier cities, said it would prohibit local families from buying a third home and non-local tax payers from buying any unit, Shenzhen Evening News cited a local government statement as reporting.

Otherwise, the city's housing authorities would not approve their purchases, meaning they would be unable to get property ownership licences, according to the report. Nationwide, as home buyers step to the sidelines following the latest tightening measures, signs of a rebound in property transactions and prices stalled during the weeklong National Day holiday, when property sales would usually soar.

economictimes.indiatimes.com
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