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China Takes New Steps To Cool Property Market

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China takes new steps to cool property market

Monday 29 May 2006, 5:06am EST

(Taken from: Reuters)

BEIJING, May 29 (Reuters) - China on Monday announced a series of steps aimed at cooling excessive price rises in parts of the property market.

Among the measures effective June 1, gains from houses sold within five years of purchase would be taxable and individual homebuyers would have to put down 30 percent of the value of the property, compared with 20 percent now, in order to obtain a mortgage, Xinhua news agency quoted a circular from the State Council, or cabinet, as saying.

At least 70 percent of all new apartments must be no more than 90 sq m large, a step aimed at deterring construction of big luxury flats, the circular said.

Who'd have thought we could have actually done something to avoid this whole darn mess in the first place? :blink:

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Who'd have thought we could have actually done something to avoid this whole darn mess in the first place? :blink:

And who'd think that we will is also an important question.

God I hope so, it'd be a lifetimes worth of X-mas presents for us.

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Who'd have thought we could have actually done something to avoid this whole darn mess in the first place? :blink:

But what about the "Miracle Economy"! ;)

If we had done like the Chinese are suggesting - how would all the home owners have been able to MEW themselves all those fancy holidays and buy those 4x4's

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But what about the "Miracle Economy"! ;)

If we had done like the Chinese are suggesting - how would all the home owners have been able to MEW themselves all those fancy holidays and buy those 4x4's

Hmm, good point! ;) I guess a bus ride for a couple of weeks in Skegness isn't so appealing these days? :P

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Who'd have thought we could have actually done something to avoid this whole darn mess in the first place? :blink:

They don't need HPI, they rely on ours instead!

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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