Shanghai planning to curb property price hikes: sources

Shanghai

SHANGHAI officials are planning additional measures to stem a surge in property prices in China's financial hub, according to sources.

The city's government held a meeting with authorities including the local branches of the central bank and banking regulators on Thursday, said the sources. Potential regulations being considered include increasing downpayment requirements for some second-home purchases to 70 per cent and tightening the criteria for non-locals to buy homes in Shanghai, said one source. The government will announce the measures soon.