Guangzhou, Shenzhen latest cities to impose property cooling rules
Home buyers in Shenzhen to pay downpayment of 30%; Guangzhou caps purchases to 2 properties
Beijing
CHINA'S southern megacities of Guangzhou and Shenzhen are the latest centres to roll out new measures to cool their overheated real estate markets, including higher mortgage downpayments and home purchase restrictions.
A property boom has given a welcome boost to China's economy this year, fuelling demand for everything from construction materials to furniture, but a growing buying frenzy is adding to worries about ever-rising debt and risks to the banking system.
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