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Beijing bans property ads promising high returns and good feng shui
Online property portals in Beijing have been forced to remove "illegal information" in an attempt to curb rising prices in the capital. The sites had until Wednesday to remove ads promising high returns and even good feng shui, state media said. Beijing's surging home prices have made it unaffordable for many, and led to high debt levels. Authorities have issued new restrictions this year, calling the property market an economic risk. This includes raising the minimum down payment on a second home and suspending individual mortgage loans of more than 25 years. Third property purchases and any form of financing ... (full story)