Wang Jian, a 29-year-old working for a Beijing technology company, saw his hopes of buying a flat in the capital evaporate overnight when strict new cooling measures left him unable to afford the down payment.
Data from the National Bureau of Statistics showed the ratio of the mainland's unsold property to annual sales more than doubled to 51.5 per cent in 2014, from 24.7 per cent in 2011.
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