The newly introduced has frozen luxury home sales with just two properties above $5million sold in April which is down from 126 in March. The policy, which came into effect April 1, sees the city take a four percent cut of all home sales between $5million and $10million.And for mega mansions that break the $10million threshold, homeowners lose 5.5 percent of their sale price if they decide to cash in on their estate.
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