Taiwan'S Luxury Tax Will Fall.

In the same vein with the mainland, high housing prices also exist in Taiwan.

Early this year, Shanghai and Chongqing levy property tax, so far there is still controversy about the legal basis and the actual effect.

The Taiwan area, which is also facing the problem of high housing prices, will consider the "luxury tax law" on Friday.

"

In contrast, the mainland property tax has not had the desired effect.

The industry believes that this is because the real estate tax rate is low, the current administrative control means such as restriction, but more effective.

With the deepening of regulation, it is expected that the role of property tax will increase.

Luxury tax effect short-term presence

In 2010, in the selection of "ten major grievances" in Taiwan,

"The house with non self occupied housing and its base and open space will be pferred within two years, and it will levy 10% of the luxury tax of 15%, 1 to 2 years less than 1 years, according to the actual price."

In April 6th, the financial committee of the "Legislative Council" in Taiwan passed the draft of the first trial of the luxury tax.

Although the luxury tax is still at the stage of deliberation,

The traditional "3.29" golden schedule of the Taiwan property market is cold in the wind of luxury tax, and the volume of the overall pre-sale market has dropped by seven or eight compared to that before the luxury tax policy.

The industry predicts that the intermediary will drop 1/3 from the current more than 9000.

According to the data released by Taiwan monetary policy authority in March 28th, the balance of the purchase of residential loans by the island bank in February was 51900 billion yuan, a decrease of 495 million yuan compared with the 51905 billion yuan in January, and the mortgage loan balance has declined since March 2009.

According to the statistics of Taiwan housing agency, the housing sellers' motivation of "profit making" is obvious in the housing market of Taipei city center, Taipei suburb and Xinbei city.

The Housing Authority's confidence in housing is wavering as it is expected to impose heavy taxes on housing resale within one or two years.

In the luxury tax, the pre-sale housing is excluded from the scope of application.

In response, Li Hengyu, general manager of ERA real estate in Taiwan, believes that the driving force for real estate prices has come mostly from the pre-sale housing, and the secondary housing has increased its selling price from its aura of pre-sale housing, and is unable to become the killer of high housing prices.

Take Xin'an District, Xinyi, Taipei as an example, the price of pre-sale housing has exceeded 1 million yuan per square meter, while the second-hand housing is only about 500 thousand yuan NT.

{page_break}

Inland tax control rate is low.

Taiwan launched the luxury tax, which is similar to the tax categories launched by the world for short-term real estate speculation.

It is reported that Hongkong also launched additional stamp duty in November last year to curb speculation in the property market.

According to the relevant measures, after buying property in Hongkong in November 20, 2010, if the property is resold in 6 months or less, 15% additional stamp duty must be paid; the additional stamp duty of 10% and 5% will be paid for resale in 12 months and 24 months.

At the beginning of this year, Shanghai and Chongqing announced the initiation of a pilot property tax. Shanghai targets the new houses of the city's residents and belongs to second or more new houses with housing and non urban residents. The tax rate is 0.6%. The objects of Chongqing are the upscale apartments of single family villas, and the two apartments with no working account and no investment personnel. The tax rate is 0.5%-1.2%.

Compared with the tax rate of 10%-15% in Taiwan and Hongkong, the tax rate imposed by the mainland on property and property income is a bit of a curse.

Zhang Dawei believes that the regulation function of housing tax in China is not big at present, and the difficulty is not great.

Yang Hongxu, General Research Department of Shanghai Yi Ju Real Estate Research Institute, believes that the reason why the property tax is not very effective is that the mainland property tax rate is too low, and the implementation effect is not obvious.

"The role of Eight Control Regulations on House Prices regulation is much larger than that of the real estate tax.

According to foreign experience, it is a relatively reasonable tax rate to levy 1%-3% tax.

Speculative ammunition against speculation

If property tax plays a negligible role, what is the way out for China's real estate market to regulate irrational speculation?

Zhang Dawei thinks that luxury tax has little reference to the mainland.

"Under the present circumstances, if we use harsh tax policies to combat irrational investment speculation, we will shift the pressure to the buyer."

In Zhang Dawei's view, the current mainland's efforts to suppress house prices and speculation are mainly through policies and management, which restrict housing prices by restricting the purchase of qualifications.

"China's Taiwan and Hongkong do not use this kind of administrative suppression method, because RTHK is a relatively mature market economy."

He said that under the background of different economic systems, the mainland could more restrict the power of purchase through administrative means. Hongkong and Taiwan could regulate housing prices through economic means.

Guo Yi, director of Beijing Asian market, said that from now on, domestic administrative intervention such as restriction is the most direct and effective way of speculation in the property market. Other ways, such as taxation, are not the most effective ones.

Yang Hongxu said that in the last resort, the mainland could impose luxury tax on property.

"At present, if there is no better way to control the mainland, if the housing price can not be cooled down, then the heavy tax on short-term speculation will be effective."

He said.