China May Boost Tax on Existing Homes, Securities Says

China may increase the transaction tax on existing homes as the country sends out inspection teams to check on the implementation of property policies, China Securities Journal reported, without saying where it got the information.

If China’s home prices continue to rise in coming months and inspection teams find problems, the possibility of new curbs can’t be ruled out, the newspaper reported, citing an unidentified person. Raising transaction taxes for existing homes may come first, according to the report, which didn’t provide additional details.