| China's home prices may rise 3 to 5 percent next year, given a stable real estate policy, JP Morgan said. "As the housing market gradually stabilizes and the government continues the existing property tightening measures, we expect that national house prices will increase modestly by 3-5 percent in 2013," said Zhu Haibin, an economist with JP Morgan. "A strong rebound or sharp decline in house prices is unlikely in the near term."
Property tax, which was introduced in Shanghai and Chongqing, is likely to be expanded to other cities in the second half of 2013, but the impact on the housing market will be limited, the research note said............................................Full Article: Source
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