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With new anti-bubble rules, housing sales collapse 70pct in Beijing

Posted on 10 April 2013

The Chinese government is doing what it can to continually poke holes in the country’s housing bubble. It appears they have been successful this time around in Beijing. When it comes to existing housing sales in the city, the market has been put on ice.
At least for the time being. Pre-owned home transactions in the city declined by as much as 70% in the first week of April following the government’s newest weapon in its anti-bubble artillery, a 20% tax on used home transactions………………………………………..Full Article: Source


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