Nearly 60% of second hand homebuyers in Beijing paid in full for their property after policies designed to counter specualtion were introduced in mid April, according to a joint report by Homelink.com.cn and China Everbright Bank. The ratio was up significantly from the 38.9% level seen between January 2007 and April 2010. It also found that first homebuyers in the Chinese capital were aged 27 on average, much younger than 42 in Japan and Germany and 30 in the United States. Housing prices in medium and large cities are still too high and the government will continue to roll out policies to curb property speculation in the second half of the year, said National Development and Reform Commission director Zhang Ping.
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