Chinese developers rush home sales amid turning point in sentiment

Quick Summary:

Robust sales in October have depleted supply, with many cities to experience a 20 per cent drop on average in November, research institute says.

China will amend taxes on residential transactions to lower the cost of ownership and motivate a larger pool of buyers.

It will lower the cost of ownership and widen the access to bigger homes for more people.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong KongChina

Topics: Week Homes Central Cent November Prices Project Government Developers Projects Property

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 09:30:15 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 242 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23644786

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