Property News · March 11, 2019

China sounds a clarion call for a property tax, causing real estate stocks to slump, even if the legal basis for the tax is years away


A clarion call by China’s legislature to implement a tax on the nation’s property holdings scared investors into dumping real estate developers’ shares, even if the legal foundation for enacting a nationwide levy is at least five years away.The Shanghai Property Index, which tracks 25 real estate developers on the Shanghai Composite Index, slumped 4.3 per cent on Friday in its biggest one-day percentage decline since October 11, causing at least two of the stocks to fall by their 10 per cent…

Source : South China Morning Post
Read more…China sounds a clarion call for a property tax, causing real estate stocks to slump, even if the legal basis for the tax is years away

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