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.4 z& i3 B; ] e' `: [0 a& z
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.) V: _) n+ O( r7 K) s5 U
All first home buyers will have to pay a downpayment of at least 30 percent of the purchase price, according to the new rules.$ p& W8 V j9 ^% Q! P: W5 U- m
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.. W( B ~4 u0 j1 D. z9 q+ ~: |' Z
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.
8 x% L( t- K/ l7 |5 T1 I Officials will be held responsible if they fail to implement the new policies. |