NEW YORK ( TheStreet) -- There is broad disagreement on the direction China's real estate market will take this year. While some analysts presage a crash with prices plunging nearly 30%, others are more optimistic and foresee prices improving by a healthy 10% to 15%.During April, the Chinese government introduced tougher policies to rein in the property market. The government hiked minimum mortgage and down payment rates, restricted second home purchases, and blocked bank loans for third houses. China is contemplating on introducing a property tax, which seems less likely now as prices dropped by a marginal 0.1% in June, as compared with May.
China's Real Estate Riddle
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