China's Chongqing may impose sales tax on some properties

SHANGHAI: The central China municipality of Chongqing is considering measures to tamp down property speculation in the city, including the imposition of a special sales tax on expensive properties, the Shanghai Securities News reported on March 26, quoting Chongqing's mayor.

Earlier this month, state media reported that Beijing may adopt a series of measures to try to rein in soaring land prices, including controlling land sales in highly sought-after areas.

Rising housing prices are a hot topic among Chinese city-dwellers, especially among recent graduates and young couples who fear they will not be able to afford their own place to live.

Economists have also expressed increasing concerns about a housing bubble in China. China has tweaked taxes and tightened mortgage rules in recent months to cool housing prices.- Reuters