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Taxing real estate
HOME > PAST ISSUE > REPORTS [Premium content]March 2007
Tax changes may have sent real estate shares plunging, but property prospects across China remain bright
Talk of a property bubble across China may be a little exaggerated but Beijing is taking no chances with a raft of new measures aimed directly at property speculators and smaller real estate developers.
In real terms, property in China is more affordable now than it has been in a long time. Countrywide, an average 70-square-meter apartment costs about US$24,000 (RMB189,000), 4.7 times average household incomes. Three years ago, it was 10 times the average income.
"The Chinese ...
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