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ROK to boost housing market

08-31-2010 09:04 BJT

South Korea's government has announced measures to ease curbs on mortgage lending, aiming to counteract a slump in its housing market.

The country will roll back some restrictions introduced earlier this year. Limits for some borrowers will be lifted until next March, giving banks the power to decide how much they can lend to home buyers.

The restrictions will also be lifted for those with no homes or single-home owners, who buy properties worth less than 750 thousand dollars. But areas notorious for property speculation are excluded. The change aims to revive housing sales, which contracted since the announcement of tightening measures in the first quarter.

Editor:Xiong Qu |Source: CNTV.CN

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