Rumours of rising down payment bring down real estate stocks

    BEIJING, May 12 (Xinhua) -- Rumors that the central bank could soon raise the required down payment for home purchases has caused a slump in real estate shares in China.

House down payments may rise steeply

    BEIJING, May 12 -- The central bank may raise housing mortgage down payments dramatically in a bid to cool down the red-hot property market. The People's Bank of China is mulling over a new mortgage policy to curb housing price hikes; and could raise the amount from the current "20 per cent to 40 or 50 per cent," reported 21st Century Business Herald yesterday, quoting "a well-informed" source.

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