The 11 cities are Beijing, Xiamen, Hangzhou, Fuzhou, Qingdao, Guangzhou, Qidong, Zhuhai, Changzhou, Huizhou, and the latest, Yangzhou.
The new rules require a holding period before selling a newly purchased home. Many home flippers use high interest short-term loans and flipping becomes unprofitable as holding periods reach a year or more. Rules are different for each type of property. Beijing has one of the strictest rules on companies that buy residential housing, requiring a three-year holding period.
iFeng: 楼市“限售”扩至11城 北京暂未跟进个人住房限售
Reuters: Chinese cities restrict home sales by buyers to fight speculation
Trump’s tax plan fail: More for the rich - Care of Elliott Clarke at Westpac: Ever since the GFC (if not many years before), financial conditions and taxation in the US has favoured wealthy househol...