Recently, the performance of investment markets such as stocks and commodity futures has been unstable. Therefore, many people have turned their attention to the real estate market. Last year, the property market in first-tier cities represented by Shenzhen performed brilliantly, spurring a new wave of rising demand, while the performance of other cities was worrying, especially under the pressure of high inventory. At this time, many people in the industry speculated that the real estate tax pilot is expected to be expanded.

The first batch of real estate tax pilot cities

In 2011, Shanghai and Chongqing began to pilot real estate taxes. In the following years, news of real estate tax expansion continued, but none of them was accepted by everyone. confirmed. At present, the property tax policies implemented in Shanghai and Chongqing are not the same.

Chongqing’s property tax policy mainly targets mid-to-high-end residences and second-home investments, with rates ranging from 0.5% to 1.2%. Chongqing's real estate tax collection covers nine districts in the main city. It is levied based on the transaction price of the house. If the property owner who levies the property is underage, his or her guardian will bear the tax. Property tax is calculated by subtracting the tax-exempt area from the building area and multiplying the result by the tax rate.

The scope of Shanghai real estate tax collection includes the second suite of newly purchased houses, purchases of houses outside the city’s registered permanent residence, etc. The rate levied is 0.6%. For houses whose transaction price is lower than twice the average market price, The collection rate is 0.4%. When the property rights of a house are transferred, the property owner must first pay the tax before transferring the property rights.

New real estate market trends in 2023

This year, the differentiation of real estate markets in various regions has further intensified. On the one hand, housing prices in first- and second-tier cities have steadily increased, while on the other hand, housing prices in third- and fourth-tier cities have gradually declined. Faced with the problems of high inventory and healthy development of the real estate market, under the pressure of economic downward pressure, the government's real estate card seems to have become the focus of everyone's attention, which has a profound impact on the new pattern of the real estate market.

In recent years, the real estate market has ushered in a new turning point after experiencing a boom. Real Estate Last year, the Interim Regulations on Real Estate Registration were promulgated, which triggered speculation about real estate taxes. One boot has fallen, can the other one be far behind? The introduction of real estate taxes may trigger a wave of selling, thereby affecting the destocking of the real estate market. Policy implementation, but on the other hand, property tax is of great significance to the long-term healthy development of the real estate market.

Generally speaking, the collection of property taxes can curb the rapid rise in housing prices in various places, make people's investment in real estate more rational, and avoid problems such as excessive vacancy rates and individuals taking advantage of their authority to occupy houses. However, the pilot expansion of property tax will not cause housing prices to fall in various places.