The public has been pinning high expectations on the new government, due to take office in March, for more effective actions to curb housing price rises. Achieving this goal will help it gain more public trust.
In the stockpile of government policies, property tax remains one of the very few forcible weapons that can be wielded. A well-targeted property tax will effectively squeeze investment and speculation out of the market and return the market to a rational development. Facing a housing market that is once again in danger of spiraling out of control, there are reasons for people to anticipate that a property tax is on the way.
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