China Home Prices Up in Most Cities, Posing Policy Challenge

2013-03-18 — bloomberg.com

China on March 1 imposed its toughest curbs in a year, ordering the central bank to raise down-payment requirements and interest rates for second mortgages in cities with excessive price gains, enforcing a property sales tax and telling local governments with the biggest price pressures to tighten home- purchase limits. It ordered individuals selling properties to pay a 20 percent tax on the sale profit when the original purchase price is available, a levy that is being easily avoided

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