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Housing market slows in China’s first-tier cities

Posted on 07 May 2013

China’s rocketing real estate market has decelerated since the State Council announced five new policies in March intended to curb the alarmingly rapid growth. Policies designed to stabilize housing prices and stifle speculation included a 20 percent capital gains tax, higher down payments, and increased mortgage interest rates in heated up markets, as well as curbs on second properties.
Some cities had experienced prices multiplying by factors of 10 recently, causing official concern, and locking prospective homeowners out of the market, CNBC reported………………………………………..Full Article: Source


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