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'Home prices to continue to increase'

By Zheng Yangpeng | China Daily | Updated: 2013-07-25 06:36

Housing prices will rise more slowly in the second half than in the first, but upward pressure will persist, prompting experts to call for "long-term" policies that can be adapted to market forces.

"Local governments face great embarrassment because their property curbs have become increasingly irrelevant to the market," said Yang Hongxu, vice-president of the Research Institute of E-house China, at a recent symposium in Shanghai.

In March, the central government announced a 20 percent capital gains tax on pre-owned home sales. Several cities announced detailed policies of their own at the end of March.

'Home prices to continue to increase'

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