China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.
Last week the authorities in several of China's biggest cities slapped a 20 per cent capital gains tax on homeowners who sell their properties.Monday, 1 April, 2013, 4:04am
Shenzhen, Tianjin, Jinan and Hefei have become the latest batch of cities to meet a central government deadline on issuing detailed measures to cool the property market. Tianjin said a 20 per cent capital gains tax would be imposed on second-hand property transactions in the city. However, Shenzhen, Hefei and Jinan did not mention a capital gains tax specifically.
2 Apr 2013 - 4:46am
These days, mainlanders and Hongkongers may not see eye to eye on many things - political developments in Hong Kong and even the number of baby formula tins that may be bought, to name two examples. But there is one thing that is sure to rile both sides - property prices soaring far beyond the means of ordinary people.1 Apr 2013 - 5:32am 3 comments
Beijing, Chongqing and Shanghai will levy a 20 per cent capital-gains tax on second-hand property transactions.31 Mar 2013 - 8:01am
K Wah International, the mid-tier developer, plans to speed up sales of mainland projects to offset the impact of cooling measures on both sides of the border.28 Mar 2013 - 6:31am
Property developer and contractor Socam Development will aggressively cash in its mainland properties and pursue opportunities in Hong Kong's expanded building programme for public housing and infrastructure.28 Mar 2013 - 6:31am
Sales of secondary homes in Shanghai may hit a record high this month as sellers rush to avoid having to pay the 20 per cent capital gains tax flagged by the government earlier this month.27 Mar 2013 - 5:44am
Think of log cabins and what comes to mind are charming chalets in the Alps, rustic retreats tucked away in the woods, cosy second homes in Vail and Aspen.27 Mar 2013 - 6:19am
Cities in China are catching up with their Western counterparts. In Knight Frank's 2013 Global Cities Survey, Shanghai and Beijing power up the rankings, pushing Geneva and Paris down the list.27 Sep 2013 - 4:17pm
Speculation and corruption have come to dominate China's economy since 2007. The two form a temporary equilibrium to sustain growth, though at increasingly low efficiency, as reflected in the rising inflationary tendency of the economy.25 Mar 2013 - 2:37am 2 comments