Secondhand housing transaction surges in Chongqing (3)

Citizens queue to conduct secondhand housing transactions at a property registration center in Chongqing, southwest China, March 6, 2013. Secondhand housing transaction surges in Chongqing these days as buyers and sellers are rushing to catch the last bus" and complete their deals before the new measures are fully implemented. According to the statement from the State Council, homeowners selling property will have to pay a capital gains tax of 20 percent of the profit they make on the transaction. Homeowners were previously taxed 1 percent to 2 percent of the total sale price. (Xinhua/Chen Cheng)