China’s Housing Market Continues To Soar

Still, despite higher real estate transaction taxes in cities like Shanghai and Beijing, implemented earlier this year, Chinas housing market continues (source) to soar. Rising property prices will constrain room for lower interest rates. Now that economic growth has rebounded and looks set to achieve the 7.5%target for this year, the governments priority may shift toward containingfinancial risks and property prices, said Zhang.
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