New-home prices increase 1% in January

A salesman with property brokerage 5i5j told China Daily that secondhand house deals are now "extremely hot", in what is traditionally a low season for sales. Some homeowners have begun to delay their sales plans due to the bullish outlook, he said.

The rising prices have triggered calls for expansion of the property tax policy, which is expected to curb the number of homes investors buy. So far, the pilot policy has been limited to Shanghai and Chongqing.

Citing an unidentified person, the China Securities Journal reported on Friday that China may delay widening property tax trials because the timing is not right.

Ni Pengfei, director of the Urban and Property Research Center under the Chinese Academy of Social Sciences, said: "Further regulation of the housing market, including expansion of property tax, allows for no delay. A tougher message from the government is very important to stabilize market expectation."

zhengyangpeng@chinadaily.com.cn

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