New rules was announced to push down the country-wide (so-called overheated) real estate price. There are many rules. Here are some I remember:
- Down payment must be 30% or higher for apartment bigger than 90 square meters. 20% for 90 sqr. meters or smaller.
- Selling apartment within 5 years of purchase are subject to about 5% operating tax of the total apartment price.
It seems the government start to be serious about the high price of apartments. Result? I cannot predict yet.