Home Sales Plunge as Buyers Await zero-VAT

Only about 22,300 homes were sold in the second quarter, a drop of 13% from the first quarter and a 29% decline from the same time a year ago.

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Buyers waiting for the much-touted plan for exemptions from the value-added tax on the purchase of a new home caused home sales to plunge to its lowest level in three years, the Finance Ministry said...