0355 GMT - China's property industry could develop into a new model in the next five years based on the guidelines from the Third Plenum, UOB Kay Hian analysts Jieqi Liu and Damon Shen say in a research note. Government housing could make a much higher contribution to the country's housing supply, while the private residential sector could contract in size but improve in quality, they say. There could also be changes in the pre-sale regime with developers' having a wider financing channel via the whitelist loan mechanisms and listing of REITs. Meanwhile, there is potential for introduction of a property holding tax to compensate for lower land sales and transaction related tax. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
July 24, 2024 23:55 ET (03:55 GMT)
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