Property purchase regulations updated; first down payment rises

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Dongguan Times, January 27, 2011

The Dongguan Times today shows a picture from the Dongguan Spring Festival gala put on on the day of 'Little New Year.' The event took place at the Dongguan Yulan Theater (玉兰大剧院), guests included rock star Cui Jian (崔建).

The latest regulations are out to control housing prices: A second property purchase requires first down payment to be 60% of the total price, and third property purchases has been forbidden altogether.

In a separate devlopment, Reuters' Trading China Twitter account just announced the following:

BREAKING NEWS: MAYOR OF CHINA'S CHONGQING CITY WILL ANNOUNCE PROPERTY TAX PLAN ON THURS EVENING - OFFICIAL TELLS REUTERS

Finally, more news on chunyun (春运) or the Spring Festival Rush. At Dongguan East Station, tickets for going home can no longer be bought. Open dates for the hotline for a return ticket from a place like Hunan has been extended to the 31st, but they are running out fast too. The paper gives numbers for travelers to call in order to book their ticket.

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