To the real estate market: prices will like bitcoin value fluctuations?

China have made every effort to tame the real estate market, in this market, prices sometimes like bitcoin value.

Over the years, in one city or another, its mortgage co.. It is trying to prevent people who already own a home purchase housing. It has invested billions of dollars to build a new house of ordinary Chinese can afford.

Now, China government is considering taking some measures, although the United States and other local homeowners are very familiar with, but this would dramatically reshape the world’s second largest economy: real estate tax.

Live in a place without real estate taxes may sound very attractive, but more and more China experts and policy makers said that the lack of real estate tax to help China economy is huge and the key part of the unstable.

Many investors panic buying housing – in Chinese, most of them are hoping to take the apartment prices soaring. In the largest city, the average price in the past eight years at least doubled. But in many city, a large number of apartments or because a house is absolutely empty, not moved or rental, either because they built this house. No one wants.

Last October, Chinese said, “housing is built for living, not for speculation.”

A recent chilly morning in an apartment building in the eastern city of Nanjing, the real estate ebullience. Prospective buyers in tents and sleeping under a quilt, waiting for the chance to buy. According to the presence of people and social media crazy pass photos show, so many cars come, that a mile traffic jam around the sales office.

“There are a lot of speculators,” to participate in the activities of the Nanjing real estate inspector Han Changlong said. “Some people think that if they do not buy a house now, the future will become more expensive.”

The tax is far from guaranteed, lawmakers did not said they held annual meeting in March to discuss this issue. However, experts say, are gaining momentum.

Property tax may have a profound impact on a key part of the national economy. An academic institution – Southwest Chengdu China China family financial investigation and research center data show that in three nearly four of real estate accounted for China household assets. In contrast, the proportion of American households slightly more than one-third. About 1/5 to 1/4 of the Chinese annual economic output from the real estate and related industries, such as furniture manufacturing industry.

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