More Homeowner Tax Coming

Analysts say the expansion of the property tax pilot scheme is “untimely”, but poses limited marginal impacts on the sector.

Kate Lin, CAIA 28 October, 2021 | 11:56
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Over this past weekend, Chinese policymakers announced an expansion of the property tax pilot scheme. The expanded schemes will now tax residential and commercial property in cities, while rural households will be excluded, according to the announcement. Specific locations were not disclosed.

This is a new blow to the mainland home market, which is already roiled by a myriad of events including the  China Evergrande Group crisis, other developers’ defaults and developers selling profitable units for cash. All of this has been under the three red lines policy backdrop, which puts a cap on developers’ borrowings. 

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About Author

Kate Lin, CAIA

Kate Lin, CAIA  is a Data Journalist for Morningstar Asia, and is based in Hong Kong

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