Chinese cities introduce curbs to cool home prices

Shanghai

LOCAL governments in nine Chinese cities tightened rules for home purchases over the last few days in a bid to damp resurgent demand and rein in excessive speculation.

Beijing, Chengdu, Hefei and Suzhou are among Chinese hubs that have implemented curbs to cool home prices. The authorities in those metropolitan areas introduced measures ranging from raising downpayment requirements for both first and second homes to ruling some potential buyers ineligible.