Hong Kong/China Property Daily:Inside the Great Wall

Tightening mortgage policies seen in different cities

    The media reported that the mortgage policies offered by different cities havebeen tightened. These cities include Beijing, Guangzhou, Chongqing, Qingdao,Hangzhou, Dalian, Zhuhai, and Tianjin. While Beijing, Guangzhou, Qingdao,Dalian and Tianjin lowered the discount for first home mortgages from 15% to10%, some of the banks in Hangzhou are lowering the discount to 5%, whilebanks in Chongqing do not offer discounts now (as opposed to 15% before).

    (CFI)Zhengzhou further tightens policy on purchasing houses in the city

    The media reported that the meeting notes from the housing authority inZhengzhou showed that, so as to continue the house purchase restrictions andto ensure the stable and healthy development of the property market, buyers indistricts without HPR imposed will have to provide a minimum of 24 months’proof of social insurance contribution prior to the date of the purchase.

    However, such contributions are allowed to be paid on a one-off basis beforepurchasing the house unit. (The Paper)