23.09.2011 - Taiwan: Cooling a hot real estate market to deflate a bubble
Taiwanese real estate brokers hope that a new bill under consideration in the Legislative Yuan will help rein in runaway prices on real estate in Taiwan. The bill would require that property taxes be based on the transaction values of homes rather than on government assessments. Government assessments are usually set at levels much lower than actual market prices. This gap in value means that holding costs are insignificant compared to the profits that can be gained through property transfers, which can lead in turn to price manipulation in the market..............................................Full Article: Source
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