Reports about measures being considered by the Government to ease the property market, including a progressive tax rate, have had an immediate and sharp impact on housing prices in HCM City.
Lam Van Chuc, director of Phuc Duc Housing Ltd., thinks the progressive tax proposed by the Construction Ministry is the reason for a fall of 30 per cent in the number of clients making inquiries last week.
The ministry also asked the HCM City government last Tuesday to investigate violations of the Housing Law and the Law on Real Estate Transactions by property developers.
