Online property portals in Beijing
have been forced to remove illegal information in an attempt to curb rising
prices in the capital.
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 second home and suspending individual mortgage loans of more
than 25 years. Third property purchases and any form of financing advice are
also banned.
The crackdown now extends to sales
tactics used by online real estate portals, some of which tout limitless
potential for price gains.
This move comes just as China releases its
first-quarter growth figures next week.
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