Too Many New Apartments? The Government Tries to Step In

Here’s another hot topic: the glut of new housing. There are nearly 81,000 new apartments sitting unsold, which equals almost two years of sales! That’s a serious bottleneck risk.

To try and unlock the situation, the government has rolled out incentives: temporary tax breaks, reduced acquisition tax if you sell your previous home within 24 months… Anything to get the market moving and shrink that surplus.

Will it be enough? Between developers anxious to sell and hesitant buyers, it’s hard to say. We’ll soon see if these measures can grease the wheels — or if more dramatic steps will be needed down the line.