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The Ministry of the Interior on Dec. 9 said it is seeking to amend the Equalization of Land Right Act (平均地權條例) and Real Estate Broking Management Act (不動產經紀業管理條例) to restrict property presales and transfers of presale contracts. It would add stiffer punishments, with a maximum penalty of three years in prison or a fine of NT$50 million (US$1.81 million), to curb market speculation. Housing purchases would require a permit, transfers within five years of the original purchase would be prohibited, and a whistle-blower mechanism would be set up, the ministry said. The measures, aimed at cooling the housing market, show that an

Jiayi shiYunlin xianWang juei hsingMinistry of the interior on decLand right actReal estate broking management actThe taipei times