State Council move dampens price hikes of suburban homes

Property prices in some of Beijing's far suburbs, where home costs have seen some of the wildest upward swings, are cooling.

The softening prices followed the State Council's introduction of policies aimed at containing surging home prices. Many customers have decided to postpone their purchases, real estate agents say.

The policies, issued Saturday by the State Council, include stricter criteria - including bigger down payment requirements - to buy a second or third apartment.