To buy or not to buy: question for homebuyers

    BEIJING, June 3 -- Possible homebuyers have taken a wait-and-see attitude after the State Council issued detailed measures to cool down the real estate market this week.

National ban on villas to be strictly implemented

    BEIJING, June 1 -- A ban on land allotment for building villas will be strictly implemented, the Ministry of Land and Resources (MLR) announced yesterday adding more muscle to recent government moves to cool down the property market.

    A statement by MLR Vice-Minister Wang Shiyuan urged governments at various levels to "immediately" halt the approval of land supply for villa construction; and make a structural adjustment of land supply.

Survey: home buyers good at repaying loans

    BEIJING, June 1 -- China's central bank said yesterday the liability ratio of domestic house buyers is normal and mortgage borrowers have a strong capability of paying the loan, citing results from a survey it did in 10 major cities.

    The survey was conducted last November in Beijing, Shanghai, Tianjin, Chongqing, Guangzhou, Shenzhen, Chengdu, Nanjing, Hangzhou and Qingdao to get a fuller picture and knowledge of the nation's real estate market, the People's Bank of China said on its Website. But it did not reveal the survey size.

PBoC raises down payment levels on larger houses

    BEIJING, May 31 (Xinhua) -- China's central bank is to raise the down payment level on loans for purchasing larger homes from June 1 in a bid to curb soaring house prices and adjust supply.

    The People's Bank of China has issued a circular, saying that down payments for homes of more than 90 square meters will rise from 20 to 30 percent, while those for homes below 90 square meters will stay at 20 percent.

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