Friday, April 30, 2010
Beijing limits home-buyers to one new apartment
The Chinese capital Beijing has issued rules limiting families to one new apartment purchase as authorities try to rein in rampant property speculation and soaring prices, state media said Friday. "For the time being, one family can buy only one new home in the city," China News Service said, citing the municipal government. Beijing authorities also ordered banks to refuse home loans to people who cannot prove they have paid taxes and made social security contributions in the city for at least one year, the report said.