BEIJING Nov 28 China's major port city of
Tianjin on Monday announced stricter tightening measures to rein
in a red-hot property market, by hiking the downpayment ratio
for buyers of first and second homes.
The ratio has increased to 30 percent for first-home buyers
borrowing from banks, versus 20 percent earlier, the central
bank branch in Tianjin, near Beijing, the Chinese capital, said
in a statement.
A higher downpayment, of 40 percent, is required from those
with unpaid mortgages who plan to buy a second home, it added.
The new rules took effect on Saturday.
Tianjin was among 15 cities that adopted tightening measures
in the first week of October, as part of efforts to damp
Since then, some of the cities, such as Shenzhen and Wuhan,
have stepped up measures with fresh curbs, although not as
restrictive as those of Tianjin.
(Reporting by Yawen Chen and Nicholas Heath; Editing by