Property restrictions to ease?

Price cuts on new developments in Shanghai angered recent buyers last week who have paid the full price. Price cuts resulted from restrictions on home purchases, as well as other tightening measures. The move prompted Jiang Weixin, Minister of Housing and Urban-Rural Development, to admit such restrictions will eventually be replaced by a national property tax once a nationwide database has been established. The comment was interpreted as a sign that restrictions on home purchasing could to be eased.

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