News that China is to pilot a much-heralded property tax in selected cities may have a psychological impact on the market, prompting owners of multiple homes to sell down their holdings before the market takes a sizeable hit, according to analysts.With the new levy bound to undercut house prices across the nation – as it is intended to do – agents said those investors might need to offer steep discounts if they want to sell fast.“Heavily geared investors will be hardest hit as it will become…
Source : South China Morning Post
Read more…China’s new property tax may prompt owners of multiple homes to sell down their holdings before prices take a hit, say analysts
