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China's housing prices may decrease 10 percent this year as property developers are facing a shortage in capital, China Securities Journal reported on Sunday, citing Nie Meisheng, president of the China Real Estate Chamber of Commerce under the All-China Federation of Industry and Commerce.
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She projected that property sales volume will decline 7 percent and sales value will decline 10 percent this year in China's 35 major cities, which took up half of the country's property sales last year.
Nie also said she believes the government won't impose a property tax on current home owners.
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