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Su Buchao, real estate industry commentator and General Manager of Wolong Media |
Su Buchao, real estate industry commentator and General Manager of Wolong Media, said that people don't need to worry about an overheated property market in 2011. "Next year will see property prices staying at reasonable and stable levels. The market's highlights will include changes in consumption patterns and new areas of focus for speculators," Su said.
Su believes that property taxes will be a significant factor in the reduction of property prices. He also believes the soon-to-be-passed tax laws will exert enormous impact on the second-hand housing market. Prices for these homes might see significant drops next year as a result of the taxes.
Real estate "hot spots" will also change next year, according to Su. "As the result of new restrictions on real estate purchases, third- and fourth-tier cities around Beijing, such as Langfang and Chengde, will become new targets for investors," Su said. |