beijingers close housing deals at eleventh hour
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

Beijingers close housing deals at eleventh hour

Arab Today, arab today

Arab Today, arab today Beijingers close housing deals at eleventh hour

Beijing - XINHUA

Frantic home sellers and buyers swarmed housing registration centers in Beijing on Friday in hopes of finalizing their deals before a detailed plan for cooling the hot property market is announced.In the Fengtai District Housing Registration Hall, people queued in long lines to finalize transactions as police maintained order among hundreds more people waiting outside.Li Li, 30, said she had been planning to buy her own apartment after her recent wedding. \"After the government announced the new tax plan for the property market, I made my decision to buy one as quickly as I could.\"The Chinese government rolled out a plan on March 1 in a bid to tighten control over the property market amid expectations of rising housing prices.Among the measures, the central government announced a proposed 20 percent tax on capital gains from second-hand home transactions, replacing the previous transaction tax of 1 to 2 percent of the final sale price.The central government also required governments at the provincial level to work out specific targets and measures before the end of March.The move triggered a wave of panic among buyers and sellers, with brokers raking in substantial commission fees amid the frenzy.Wang Xinghua, a consultant with the Xuanwumen outlet of property brokerage firm HomeLink, said the purchasing rush pushed up revenues at his outlet in March to about 1 million yuan (160,937 U.S. dollars), roughly double the monthly average.\"The housing market might cool down for a while after the new tax policies are in place. In the long run, however, housing prices will not drop, as rigid demand is still there,\" Wang said.The new initiative in the housing market, however, triggered an unintended surge in housing prices, particularly in the second-hand housing market.\"I think the government should have acted in a more transparent way by, say, letting us know when exactly the new tax policies would be implemented. Otherwise, the market would go through severe fluctuations amid a buying or selling panic,\" Li said.A second-hand automobile dealer, who only gave his surname as Wang, said he commissioned the sale of his house to a property brokerage firm on the same day the new rules were announced.Assuming prices would fall, Wang sold his home just two days later, before seeing how significantly prices would rise.

arabstoday
arabstoday

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

beijingers close housing deals at eleventh hour beijingers close housing deals at eleventh hour

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

beijingers close housing deals at eleventh hour beijingers close housing deals at eleventh hour

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday