At the end of March, the Shanghai government unveiled a local guide to the “Five New National Measures” which were issued by the State Council in February. The notice enforced strict implementation on the policy, ranging from buyer qualification, credit to tax collection. The 20% capital gains tax on sales of privately owned homes of which their original purchase costs can be verified attracted the most attention.
However, from the latest local restriction policy, some questions were still not addressed, including how the 20% capital gains tax will be collected, what is the down-payment of second homes, and how to adjust the mortgage rates.
Source : Knight Frank