To the housing market now and the city of Jinan has announced new restrictions on property purchases to counteract soaring house prices. According to the new rules, the minimum down-payment for a first property has increased from 20 to 30 percent of the total value of the house, while for a second property, it has been raised to 40 percent.

The cities of Zhengzhou and Chengdu also announced new restrictions. Residents of Zhengzhou who already own two properties, as well as non-residents who own one, will now only be allowed to buy homes larger than 180 square meters. While in Chengdu, buyers will only be allowed to purchase one new property in certain districts, and for those buying a second home, the minimum down-payment is now 40 per cent.

On Friday, both Beijing and the neighboring municipality of Tianjin also raised the minimum down-payment for home-buyers. Other cities such as Hangzhou and Suzhou have also recently introduced measures to limit purchases as house prices continue to soar.