21 September 2018

Hangzhou, Nanjing unveil housing curbs, Xinhua says

The Hangzhou branch of the People’s Bank of China has set the minimum down-payment for the purchase of a second home at 70 percent, the official Xinhua news agency reported Tuesday, citing a notice posted on the central bank’s website. The minimum down-payment for first-time homebuyers is kept at 30 percent, while loans are still prohibited for the purchase of a third home or more, according to the notice. The central bank’s Nanjing branch will implement the same measures starting Wednesday, China News Service reported.

– Contact HKEJ [email protected]




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