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Nanking: House Fund Contracted, Loan Amount Dropped
Docofsoul

Yesterday afternoon, the Nanking City Management Center for Public Accumulation Fund held a news conference, announcing that the policy for house accumulation fund will be tightened from October 10. It is the first real estate policy that gets regulated this year. Reporter learned that the "inventory " of public accumulation fund has obviously decreased. So the "theme" for the regulation is to reduce the amount of loan of buyers. The index of personal ability to repay loan has been regulated from 0.45 down to 0.3. In addition, the loan amount was reduced to half of the previous amount when the debter wants to buy a high-end house with building area more than 144 square meters.

The regulation is aimed at helping low-income residents. "A house with building area up to 144 sq is an high-end commodity, you've got to limit the loan amount for this, so you can have more money to help those in need."