HONG KONG (Oct 7): Two cities in China's southern Guangdong province and the southeast city of Fuzhou imposed new home buying restrictions on Thursday aimed at preventing a property bubble. The tightening measures imposed in Zhuhai, Dongguan and Fuzhou included raising downpayment requirements and restricting owners of two properties from buying more. In the previous six days, 14 Chinese cities have imposed similar administrative restrictions to curb property speculation. The three cities on Thursday raised downpayment requirement for second-home buyers to 40% from 30%, while Fuzhou raised the requirement even for first-time buyers if they are not local residents. In Guangdong province, first-tier city Guangzhou already has home purchase restrictions in place while Fushan imposed new curbs on Oct 4.

Source: The Edge Markets October 07, 2016 08:37 UTC