City 'mulls realty price curbs'

Shanghai authorities are planning to discuss measures to cool property prices, including introducing stricter policies on financing for both homebuyers and developers, Bloomberg News reported on Thursday.

Regulators may discuss pushing up down payments from the current 30 percent to 50 percent for first-time homebuyers, and to 70 percent for buyers who have taken out mortgages, the report said.

The city's housing and construction authorities declined to comment on the report, but analysts said that it is likely that measures to curb property and land prices will be introduced in Shanghai, after neighboring cities such as Nanjing in Jiangsu province introduced limits on land auction prices. However, they said that the details of these measures remained under discussion.