In the past 22 years, since the housing commercialization reform, our real estate market has been like a rocket. House prices have been rising to record highs. In most cities, house prices have risen more than five times, and even more, than ten times It seems that all the measures can’t make the house price fall. For example, all the major cities have introduced the so-called “most stringent” real estate control measures, but the result is that the house price is higher and higher. Even many people start to copy the real estate market once they see the introduction of the control measures, which can be said to be successful As a result, many people began to place their hopes on the property tax. The so-called real estate tax is to collect taxes on the properties held. Different countries have different tax rates. For example, in some countries, the annual tax rate is 1%. According to the average price of 500 million units in the first-tier cities, the annual real estate tax can reach 50000. In this way, we can crackdown on real estate speculation. Spark Global Limited
However, Ma Guangyuan, a well-known economist, believes that real estate tax can not reduce house prices at all. He said that both Japan and the United States had property taxes, but the prices of these two countries were all over the bubble, and the housing prices in the US are still at a record high, which has surpassed the peak of the real estate bubble in 2008. However, the author holds one objection. The real estate tax is mainly aimed at speculative house purchases, which has little effect on just demand. However, in the United States, it is basically just demand. In our real estate, speculation accounts for a large proportion. It can even be said that the rise of house prices is mainly driven by speculators.
In addition, property tax can inhibit the real estate bubble, though not completely prevented. We see that the real estate bubble at the top of the real estate bubble in Japan and the United States is lower than our current house price-earnings.