As expected, because this new tax was not grandfathered, there was a run on lawyers and notaries to try and push completion dates forward last week to avoid the new 15% PTT on all foreign buyers. Will this be allowed under the anti-avoidance clause that’s in the new tax ? The tax is not only affecting wealthy Chinese buyers but young first time buyers from the U.S. as well. The Provincial Government is pumping the brakes and trying to cool this market. What effect it will have is too early to tell. It’s the fear of the unknown, and if there are other measures coming, that might have the biggest impact of the market down the road.