Limit set in Beijing on favorable loans for second houses

THE provident fund management center in Beijing said yesterday it would extend favorable loans only to second-home buyers whose per-capita floor area of the first home is smaller than 29.4 square meters.

It did not give the earlier threshold. The fund manager said in 2010 that loans should be eligible only to those with a per-capita floor space smaller than the local average. The second home must be "ordinary" - not a luxury property.

In Shanghai, provident fund management currently extends such loans only to second-home buyers with a per-capita floor space of the existing home no larger than 34.6 square meters.

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