A man cycles past a billboard advertising a new housing complex outside in Beijing. The city is following in the footsteps of Nanjing and Hangzhou, where similar policies restricting home purchases have been introduced. Photo: AFP A man cycles past a billboard advertising a new housing complex outside in Beijing. The city is following in the footsteps of Nanjing and Hangzhou, where similar policies restricting home purchases have been introduced. Photo: AFP
A man cycles past a billboard advertising a new housing complex outside in Beijing. The city is following in the footsteps of Nanjing and Hangzhou, where similar policies restricting home purchases have been introduced. Photo: AFP
China

Beijing city authorities tighten mortgage rules to cool off buying frenzy

Down payments raised to 35 per cent for first purchase and half for second home

Maggie Zhang
Maggie Zhang

Updated: 2:21am, 1 Oct, 2016

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A man cycles past a billboard advertising a new housing complex outside in Beijing. The city is following in the footsteps of Nanjing and Hangzhou, where similar policies restricting home purchases have been introduced. Photo: AFP A man cycles past a billboard advertising a new housing complex outside in Beijing. The city is following in the footsteps of Nanjing and Hangzhou, where similar policies restricting home purchases have been introduced. Photo: AFP
A man cycles past a billboard advertising a new housing complex outside in Beijing. The city is following in the footsteps of Nanjing and Hangzhou, where similar policies restricting home purchases have been introduced. Photo: AFP
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