SHANGHAI Authorities in Chinas largest city have ordered that families be allowed to only purchase one home each,Lacoste, part of a replica Corum Admiral S Limited Edition watches series of moves aimed at cooling surging property prices.The notice also said property developers would be charged a land-appreciation tax of 5 percent on the selling price of residential buildings sold at an average price that is more than twice the average price of the previous year in the same area.
Their investment options limited by various government restrictions, many urban Chinese families purchase apartments in hopes of getting higher returns on their replica Corum Limited & Numbered Editions watches savings than the paltry interest paid by banks on savings accounts.Overall, housing prices in 70 major Chinese cities rose 9.3 percent in August from the year before.Late last month, the government suspended bank loans for third-home purchases and raised required downpayments for purchases of first and second homes.Many of the apartments, often owned by out-of-towners, sit empty.
That limits supply relative to demand and is blamed for driving prices beyond the reach of many families, a trend seen as a threat both to political omega Constellation Classic watches stability and to the financial system.The new rule for Shanghai, a city of more than 20 million, took effect Thursday. Chinas capital, Beijing, imposed a similar one home per family restriction in April.It did not give exact details on how such prices would be calculated.One family in Shanghai,
