The coming luxury tax in June has already hit the real estate market. According to the sales representatives, there is an obvious decline in their dealings and enquiries. Those house sellers, who are aware of the tax practice, tend to rush the register of ownership transfer before June. Moreover, it seems the impact is not only on the real estate industry, but rather acts as a chain reaction, which may spread to other related business, such as home furnishings and bank loans…etc. However, whether it’s a positive or negative policy, is yet to be testified.
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