Real Estate Taxes and Housing Prices in Four Chinese Cities-Taipei, Hong Kong, Singapore, and Shanghai.

• Main Authors: PING, AN, 平安
• Other Authors: PENG, CHIEN-WEN
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/c3g5uv

碩士 === 國立臺北大學 === 不動產與城鄉環境學系 === 104 === The opinion of “real estate is the most important and only tool to accumulate wealth” is very popular in Chinese communities, which induces a very strong investment demand for housing. Since there is too much money flows into the real estate market, how to keep the development of real estate market be stable becomes one important issue for the government. This study tries to clarify whether the treatment of real estate tax is one important cause of this opinion by using the case study and panel data analysis method for four Chinese cities. From the case studies of Taipei, Hong Kong, Singapore, and Shanghai, I find that the effective real estate tax rates are very low in these Chinese cities. From the empirical results of panel cointegration, I find that the effect of an increase of real estate transfer tax on housing price is positive due to the lock-in effect and tax shifting. Furthermore, the influence of an increase of real estate holding tax on housing price is not significant as expected which might due to the current effective tax rates are too low. To stabilize the housing price, I suggest that the government should increase the effective tax rate of holding tax instead of transfer tax.