Home prices have climbed so high in some big cities, buyers are using consumer loans for down payments, says Zhao Yang at Nomura Holding. Photo: Reuters

As mortgages grow scarce in China, homebuyers turn to car and college loans, firm says

Research company says new funding channel being used to circumvent government efforts to cool property market

Topic |   China property

TOP PICKS

Home prices have climbed so high in some big cities, buyers are using consumer loans for down payments, says Zhao Yang at Nomura Holding. Photo: Reuters
READ FULL ARTICLE
Summer Zhen

Summer Zhen

Summer Zhen is a business reporter covering the property markets in mainland China and Hong Kong as well as cross-border investments and the financial markets. Born in Shanghai, she holds a master's degree in Journalism from the University of Hong Kong and is a graduate of Waseda University in Japan. She has also studied in the US. A winner in the "Best Young Reporter" category at the 2014 Hong Kong News Awards, Summer previously worked for Phoenix TV and Ming Pao.