Manhattan real estate market sees gains
Fourth Quarter 2007 Prudential Douglas Elliman Manhattan Market Overview reveals that the overall Manhattan real estate market continued to see gains in most market indicators, consistent with the prior three quarters including increased price levels, increased number of sales and a decline in inventory as compared to the same period in 2006, despite weakness in other US metropolitan markets.
The real property gains tax will now only be applicable to properties that are sold within five years of their purchase, Prime Minister Datuk Seri Najib Tun Razak announced Wednesday.