The prices for homes in China have risen 6.4% from the previous year. Measures have been taken in attempt to slow the housing market. The first of these measures is a property tax. It was confirmed by the mayor of Shanghai that the tax will be introduced sometime this year. Other cities are also planning to implement similar property taxes. The second measure requires buyers to have a minimum of 30% cash component when purchasing property. This is an increase from previous requirements. Despite these measures, both property prices and purchases still remain to increase.
http://www.bbc.co.uk/news/business-12204159
Meghan Steinbeiss
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment