In a further anti-speculation move, if homeowners flip properties within five years of purchase, they will be assessed an additional 20% capital gains tax, and down payments on subsequent property purchases will be boosted.
The Beijing municipal government will also no longer issues sales licenses for property projects assessed at prices “much higher” than average levels in the area.
Indeterminate phraseology like “much higher” often spook away investors yearning for more market clarity.
Another major domestic property market – Shanghai – will also begin banning loan approvals for third properties"
But since so many industries are reliant on these two industries – including banks, insurers, brokerages, developers, construction material plays, etc – there have been no white knight sector themes to swoop in and take over the baton of bullishness.
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