--FILE--Chinese migrant workers walk past a real estate project under construction in Suzhou city, east China's Jiangsu province, 17 October 2015. Two cities in China's eastern Jiangsu provinces unveiled a package of measures designed to stem a surge in property prices, adding to local authorities seeking to cool red-hot increases. Nanjing, Jiangsu's provincial capital, and Suzhou, a regional manufacturing base that's a 30-minute train ride from Shanghai, will raise down-payment requirements for some buyers of second homes to 50 percent, the two city governments said in statements on official microblogs. Down-payment thresholds were 45 percent in Nanjing and 40 percent in Suzhou. Rules for both cities will take effect from August 12. As part of efforts to curb purchases by outsiders, Suzhou will limit the eligibility for second homes to buyers who have paid income taxes and social insurance for at least a year since August 2014. Home prices in Suzhou soared 64 percent in June from a year earlier, according to data compiled by China Real Estate Information Corp. New-home prices in Nanjing jumped 29.7 percent in June from a year earlier, the latest official data show.
