BEIJING, Sept. 29 -- China will suspend bank loans for third home purchases in the near future, as the government moves to roll out further measures to check soaring property prices, Xinhua learned Wednesday.
( J. s9 I: i3 j3 t7 C) J0 T Property tax pilot programs will be stepped up, and then extended to the whole country, sources with several departments of the central government told Xinhua Wednesday.) K( W2 A4 [8 h
All first home buyers will have to pay a downpayment of at least 30 percent of the purchase price, according to the new rules.( W" R1 H" Q/ \/ q( R1 w
Previously, according to rules issued on April 17, only first-time buyers purchasing an apartment above 90-square-meters in area had to pay a 30 percent downpayment.7 l# o. I8 G+ A k- ] F, m
For second home buyers, the policy will remain unchanged: a 50 percent downpayment and a home loan interest rate no less than 1.1 times the benchmark interest rate.! ~# E, h6 @/ W8 \
Officials will be held responsible if they fail to implement the new policies. |