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

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

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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
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