Beijing to keep property curbs

Beijing will continue enforcing property curbs, in a bid to cut housing prices.

The municipal authority says this is in response to local media reports that Beijing will soon allow home purchases by non-Beijing registered families who have been paying social security or income tax for at least three straight years, easing from the current five.

Last February, the capital started putting in place purchasing limits, together with higher lending rates, higher down payments for second homes and a ban on mortgages on third homes. That has cooled the red hot property sector in the capital.