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在线翻译:
szdaily -> Opinion -> 
Letters From Readers
    2018-07-02  08:53    Shenzhen Daily

IN the Shenzhen Daily issue of June 26 we read about a woman raising 2 million yuan (US$302,200) to put down a deposit for a new apartment. New apartments have prices controlled by the government at a much lower rate than the prices of pre-owned homes on the market. As there are more potential buyers than apartments, people will now have to deposit a big sum of money to show they are serious, and then the developer will hold a lottery to see who can really buy the apartments.

Although the intention of the government is very good, speculators with deep pockets immediately abuse the system by buying at a lower price than the market price (if they win the lottery). We can try to prevent this by imposing a 100-percent tax on any profit made by buyers if they sell the apartments within five years. Otherwise it is just more speculation and pushing up prices and inflating the bubble. Currently it seems it is not those people who really need the apartments for self-use who get the “winning ticket” but the speculators with deep pockets.

Jeffry Kuperus via email

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