The trend is still new
In the current property market, high housing prices are undoubtedly the most distressing problem for people. High housing prices have brought many problems to people's lives, the most prominent of which is the pressure to buy a house. In order to buy a house, many people have to turn to their families for help, use "six wallets", and take on a mortgage for up to 30 years. This leaves many families with a heavy financial burden after buying a home. The increase in financial stress not only affects the quality of life, but also negatively affects the family's financial well-being. Therefore, tackling the problem of high housing prices is essential to improve people's quality of life and reduce economic pressure.
In the face of high housing prices, the marriage rate and the birth rate of the new population have also been greatly affected. Many young people are afraid to choose to get married easily because of high housing prices, and even some families are hesitant to make reproductive decisions and are only willing to raise one child. This situation has brought a lot of pressure to people's lives, so many people are looking forward to housing prices to reduce the pressure of buying a house and improve the quality of life.
In order to return the house to its residential attributes, in 2016, China put forward the long-term positioning of "housing for living, not for speculation". Subsequently, a series of regulatory policies have been introduced and continued to tighten. In 2021 alone, there were about 650 regulatory policies, and two regulatory policies were introduced almost every day. These policies have had a profound impact on the property market, making the property market in 2021 experience a change of first hot and then cold.
In the first half of the year, the property market was still prosperous, but with the introduction of a large number of regulatory policies, such as the "three red lines" and the "loan restriction order", the property market cooled down rapidly in the second half of the year. From January to February 2021, the average house price in China was 11,030 yuan square meters, but in the fourth quarter, the average house price fell back to 9,920 yuan square meters, down 3 percent from 10,267 yuan square meters in the third quarter4%, the adjustment trend is obvious.
Such changes in the property market show the effect of the state's regulatory policies, and also reflect the market's rational return to the real estate market. For home buyers, this means that the property market will be more stable in the future, and house prices are expected to gradually return to a reasonable level. This is undoubtedly a positive sign for people who are eager to reduce the pressure of buying a home. With the continuation of policies and market adjustments, we have reason to believe that the future of the property market will be more healthy and stable.
Even in 2022, the property market has not shown a warming trend, but has continued the cooling trend in 2021. Residential sales continue to decline, mainly due to the loss of confidence in home prices by many homebuyers, resulting in a significant drop in new home sales and a situation where there is no market for second-hand homes. In order to prevent the price of housing from being large, 23 cities have issued "** orders".
However, this situation does not meet everyone's expectations, especially for those who are just looking for a home. Despite the cooling of the property market, housing prices are still at a high level, making it difficult for buyers who just need to buy a home. According to the data, the average house price in the four first-tier cities is 650,000 square meters, and the average house price exceeds 20,000 square meters, there are 20 cities. In addition, the average home price is more than 1There are 34 cities with 50,000 square meters and 103 cities with more than 10,000 square meters.
These data show that current house prices are still at a high level. Behind the high housing prices is the support of a large number of investors. Many investors hold multiple properties, which not only increases the demand for home purchases in the property market, but also leads to a large amount of capital flowing into the real estate industry. This situation has led to high housing prices, which has put a lot of pressure on home buyers.
Therefore, for buyers who just need to buy a house, they are still facing great difficulties in the face of high housing prices. In order to solve this problem, effective measures need to be taken to adjust the real estate market, such as implementing stricter regulatory policies and increasing housing**, so as to reduce housing prices and protect the interests of buyers who just need to buy a home. At the same time, it is also necessary to guide investors to invest rationally and reduce excessive speculation in the real estate market, so as to promote the stable and healthy development of the market.
According to the data of the central bank, the housing ownership rate of urban households in China has reached 96%, of which 31 families have two houses0%, and 10% of households have three or more apartments5%。This shows that the number of households with multiple homes is quite large, and the purpose of these families holding multiple homes is mainly for investment.
In response to this phenomenon, many experts and policymakers have called for the establishment of a sound policy system and tax system to crack down on property speculation and hoarding. Qiu Baoxing, former vice minister of housing and urban-rural development, and Huang Qifan, a financial expert, both believe that the imposition of property tax is an effective means to reduce housing prices, especially for those who own multiple apartments.
On October 23, 2021, the Standing Committee of the National People's Congress passed a decision authorizing *** to carry out pilot work on real estate tax reform in some areas. This news has made many people think that the introduction of property tax is imminent, and the pilot cities have also attracted much attention, such as first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, as well as central cities such as Chongqing, Hefei, Wuhan and Chengdu are widely selected as pilot candidate cities.
However, while everyone is waiting for the introduction of the property tax, the news that the property tax may be "missing" came from the property market. The person in charge of the Ministry of Finance said in an interview: "Some cities have carried out surveys and preliminary studies, but considering the situation in all aspects, they do not have the conditions to expand the pilot cities for real estate tax reform this year." "This means that there may be some delays in the introduction of property tax.
This change has raised concerns and uncertainty about the introduction of property taxes. However, it also reminds us that the regulation of the real estate market needs to take into account a variety of factors, including the economic, social and policy environment. **When formulating relevant policies, it is necessary to carefully weigh the impact of various aspects to ensure the rationality and effectiveness of the policies. For buyers who just need to buy a house, they still need to wait for the right time and policy support to solve the problem of buying a house.
According to the current trend of the property market, this year is not suitable for the first real estate tax pilot. The property market is in a downward trend, there is a polarized situation, and the market situation is still uncertain. Therefore, it is believed that the conditions are not yet ripe to expand the pilot cities for real estate tax reform within this year. In this context, economist Ma Guangyuan believes that the future "14th Five-Year Plan" period is a good time for the introduction of property tax. He stressed that it will be difficult to have a suitable time to miss this period, indicating that property tax is still possible in the future, and there is a high probability during the "14th Five-Year Plan" period.
Experts have made different recommendations on how to collect property tax. Zhang Xuedan, an expert from the Institute of Finance and Science, proposed that an exemption line can be set up according to the residential area, and 40 square meters to 60 square meters per person should be used as the starting point for the expropriation area. He further pointed out that the property tax rate is not easy to be too high, about 1%. This suggestion was widely accepted.
This proposal takes into account the balance of interests of buyers and investors who are just in need. If the exemption area is too small, it may cause "accidental injury" to buyers who just need to buy a home, while the exemption area is too large may cause investors to avoid paying property tax. Based on the exemption area of 60 square meters per person, a family of two can enjoy 120 square meters of exempt area, while a family of three can enjoy 180 square meters of exempt area. This satisfies the demand of some households for the area to be purchased, while also ensuring that investors are required to pay property tax for the excess residential area.
For investors who own multiple dwellings, property tax will be paid on the amount exceeding the exempt area at a certain percentage of the house price (e.g. 1%). For example, if there are only four people in the family, it means that there is 760 square meters of property that needs to pay property tax. According to the tax rate of 10,000 yuan per square meter and 1%, it is necessary to pay 7$60,000 in property tax. This standard will be higher in large cities, where housing prices are generally higher.
Different people have different views on property taxes. Some argue that property taxes can increase fiscal revenues and help regulate the real estate market and curb speculation and overinvestment. Others are concerned that property taxes will increase the burden on the average homebuyer, especially for families with multiple properties.
In general, the introduction of property tax needs to take into account many factors, including the state of the property market, the economic environment, social fairness and the tax system. **Prudent decisions should be made to ensure that the implementation of property tax balances the interests of all parties and achieves a stable and healthy development of the real estate market.