China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2818)	3/16/2004 2:35:39 PM
From: RealMuLan	Read Replies (1) of 6370

China mulls real estate tax changes CHINA may impose a unified real estate tax to replace a plethora of fees that currently push housing prices to sky-high levels, state media said yesterday. The unified tax could slash housing prices by as much as 50 per cent, the China Daily reported. This is because in China, land leasing fees, taxes and fees make up 58 per cent of the total housing price, compared with just 28 per cent in other countries. The proposal for a unified tax comes amid new figures adding to worries that a bubble is developing in China's red-hot real estate market. China's average real estate sales price rose 3.8 per cent last year to 2,379 yuan (S$489.2) per sq m, the National Bureau of Statistics said yesterday. Real estate development investment in China totalled over one trillion yuan last year, up 29.7 per cent, it added. - AFP business-times.asia1.com.sg

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