Property News · January 3, 2018

Beijing’s used-home buyers bide their time as cooling measures bring prices steadily down


Wang Jian, a 29-year-old working for a Beijing technology company, saw his hopes of buying a flat in the capital evaporate overnight when strict new cooling measures left him unable to afford the down payment.
He had already paid the deposit on a 7.4 million yuan, 80 square-metre flat in the city’s Shaoyaoju neighbourhood when the new policy raising the minimum requirement from 40 to 80 per cent added 2.9 million yuan to his down payment. He had no choice but to pull out of the deal.
I…

Source : South China Morning Post
Read more…Beijing’s used-home buyers bide their time as cooling measures bring prices steadily down

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