China issues stricter measures to cool property market

2013-03-01 13:07:41 GMT2013-03-01 21:07:41(Beijing Time)  Xinhua English

China's central government on Friday rolled out specific rules to further tighten the control of the property market amid expectations for climbing housing prices.

The measures include income taxes to be levied on home owners who sell their homes to second-hand buyers, and increasing down payment rate and loan interest rate for buyers who purchase the second unit.

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