BEIJING, Nov. 29 -- The government of Shanghai has decided to impose heavier land and real estate taxes on land developers and commercial home owners, with the maximum tax amount of up to 30 yuan per square meters, which will take effect starting from the current taxable year from January to December.

    This is believed to be the first ever such strong move in the country that directly targets the skyrocketing commercial housing prices that, like in many other cities around the country, have not only made a big majority of urban residents becoming "housing slaves", but also shattered the dreams of many others in getting their houses on much affordable prices.

    According to Wednesday's Oriental Morning Post, the new land and real estate tax will be levied in six categories that will range from 1.5 to 30 RMB per square meters, based on different land and housing locations around the city.

    The new taxation move is also considered an intensified combat against the insane bubbles on China's real estate market following a central government's decision made at the end of last year to double taxes on urban land use from the rate set in 1988.

    Experts believe that the move will undoubtedly increase the cost of real estate developers and the cost of those who purchase commercial housing as an investment.

    (Source: CRIENGLISH.com)

Crackdown on housing scams in Shanghai rounds up 4,300

    BEIJING, Nov. 15 -- Authorities have swooped on unscrupulous landlords who illegally cash in on the housing crisis by leasing tiny apartments to up to 10 renters - in some cases providing toilets as "rented rooms."

    The practice, known as collective renting, was the focus of a crackdown in March which has cleaned up thousands of the city's crowded apartments.

    In one case at Brilliant City, a residential complex in Putuo District notorious for collective renting, 231 people were housed in 25 apartments.  Full story