Micheal Cole writes:
The recent craze for divorces designed to enable more property purchases may already be on its way out in China’s capital as Beijing banned one person households from buying a second home.A government announcement on March 1st that homeowners who sell their homes will be levied an income tax as high as 20 percent of the profit they make on the transaction. The new rule’s stipulation that families who own two houses and want to sell one of them would have to pay the higher capital gains tax had led to a surge in divorces as investors attempted to maneuver around the regulations.
