In the current market, small-sized houses are the first choice
for those investors who want to take small risks to gain large
turnovers. Statistics show that this kind of speculative home
buying makes up 26.7 percent of all house sales in Beijing.
Under such circumstances, some experts suggest that local
governments levy real estate taxes on extra houses that speculators
buy. They explain how in the long run real estate tax is
inevitable, although if it is put into practice, it may produce
some negative outcomes such as lifting the housing prices while
dealing a big blow to those speculators.
For more details, please read the full story in Chinese.
(
http://jjckb.xinhuanet.com/yw/2007-07/13/content_57730.htm)
(China.org.cn July 13 2007)
