Impact of Personal Housing Property Tax and Purchasing Restriction Policy on Hous-ing Prices:Based on the Empirical Evidence of Chongqing Property Tax Pilot
With the rapid development of China's real estate market,the housing price problem once became the focus of social attention.However,in the current real estate downturn,the government is committed to stabilize the market development and promote the smooth operation of the economy.With the background of the pilot reform of personal housing property tax in China in 2011,this paper aims to explore the specific impact of personal housing property tax and purchase restriction policy on the housing price,providing countermeasures and suggestions for the stable development of the current real estate market.Based on the statistical data of 34 major cities in China,effects of the restriction policy and Chongqing property tax pilot are analyzed.Results show that the long-term collection of personal housing property tax helps to prevent the rapid rise of housing prices and reduce price fluctuation,which reduces the price of commercial housing and high-end residential housing in Chongqing by 139.4-436.84 yuan/square meter and 180.18-2493.74 yuan/square meter respectively.However,the property tax on non-high-end housing is limited,while the purchase restriction policy only has obvious regulatory effect on the housing price during the implementation period.In the current period of market adjustment,through the regulation of the relationship between supply and demand in the market and optimize the allocation of resources,government should scientifically optimize tax policies,strengthening the stability and continuity of policies,actively rebuilding market expectations,avoiding excessive market fluctuations,and creating a stable and healthy development environment for the real estate market.In the long run,the property tax will be an important part in constructing the long-term mechanism of China's real estate market and affecting the stable development of China's real estate market.
property taxpurchasing restrictionsynthetic control method
万方数据
维普
