Shanghai property new launches part 1

Posted January 11th, 2012.

Authorities of the Chongging and the Shanghai municipalities had announced last Friday that they would kick off their long awaited property tax that would start on January 28 despite of all the latest measures that had been done in order to cool off the hot housing market. This usually came on the heels of another round of their tightening measures; the cabinet of China had unveiled last Wednesday and it would include a high down payment, restrictions in property new launches purchasing in other cities and an annual control targets for the price of those newly built home. The market of real estate in China had remained to be overheated.