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China: Property vacancy tax put forward

Posted on 22 November 2011

Govt warns that housing bubble is still a danger. The government will consider a tax on vacant properties, said Financial Secretary John Tsang on Monday, as he warned of an asset price bubble in the local property market.
At a Legislative Council financial affairs panel meeting, Tsang said that the measures aimed at curbing speculative activities in the property sector have taken effect as property transactions in the third quarter have slumped 40 percent on a quarterly basis and 60 percent year-on-year………………………………………..Full Article: Source


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