The property tax did not come, "it" came first, up to 20%, and the second-hand housing may usher in a "sell-off wave"
In recent years, the "lying flat family" has become a hot topic. However, it is not a new phenomenon, but it has received a lot of attention recently. What exactly is a "lying flat people"? They are the people who choose to "lie flat" in terms of spirituality, work, and material consumption. In fact, most of the lying flat people are not voluntary, but in the face of the pressure of life, they feel that they have no choice, and even accept their fate, and no longer believe in "God rewards hard work", but are more inclined to the philosophy of "sometimes there is a must in life, and there is no time in life to force". This reflects the fact that under the great pressure of life, they have reluctantly chosen a lifestyle with low desires.
So why is there a growing number of flat-lying people? Many people have bluntly pointed out that high housing prices are a key factor. High housing prices have made it difficult for more and more people to afford the pressure of buying a home. A house is not just an ordinary commodity, but a necessity related to people's happy life. Especially in cities, where there is no house, young people's love, marriage, children's education and social welfare will be affected. However, the continued rise in housing prices has left many young people with no hope of buying a home.
According to the latest data, as of January to February 2024, the average price of newly built commercial housing across the country has fallen to 9,293 yuan / square meter, which is a significant drop from the level in 2021. Despite this, it still costs around one million dollars to buy a house. This data undoubtedly reflects that the current housing prices in most cities in the mainland are still high.
Faced with the housing price of up to one million yuan, coupled with the reality that the income is generally low in recent years, many young people feel confused and frustrated about the prospect of buying a house, which has also become one of the important reasons why they choose to become "lying flat". However, there are still many people who are working hard and amassing wealth, hoping to own a home of their own, and hoping that house prices will fall further. It is worth noting that the introduction of the property market control policy is not intended to suppress housing prices, but is committed to stabilizing the volatility of housing prices. Therefore, in recent years, the government has begun to take measures to rescue the market.
Compared with the ordinary property market policy, people are more looking forward to the early implementation of the property tax. Through the introduction of property tax, it is expected to fundamentally curb the excessive growth of housing prices, so that more people can afford housing expenses and realize their dreams of living.
At present, the property market policy is mainly aimed at cracking down on property speculation and restricting investors from continuing to invest and buy and sell real estate, but for investors who already own a large number of properties, the impact is relatively limited. There are already a large number of speculators in the mainland, and they have hoarded many properties in their hands.
Property tax is a tax strategy that directly targets investors who have hoarded a large amount of property. The more properties you hold, the more property taxes you have to pay. Therefore, property tax can directly touch the vital interests of investors and have a substantial impact on them. With the introduction of property tax, the cost of holding a property will continue to rise, which will not only reduce the return on investing in the property, but may even lead to losses. Therefore, once the property tax is implemented, investors are likely to choose to sell their properties, which is expected to lead to a gradual decline in housing prices.
So, when exactly will the property tax be introduced? This is undoubtedly the focus of heated discussions at present. Especially in recent years, there has been more and more news about property taxes. Ma Guangyuan, a well-known economist, directly predicts that it is very unlikely that the property tax will be introduced in the "14th Five-Year Plan", but it is very likely to be introduced in the next five years, that is, during the period of 2025-2030. In addition, the Ministry of Finance, the Standing Committee of the National People's Congress, the Budget Working Committee, the Ministry of Housing and Urban-Rural Development, and the State Administration of Taxation jointly held a symposium on the pilot work of real estate tax reform in Beijing. Judging from the content of the meeting, the property tax is expected to be piloted in hot cities in advance. To sum up, the time for the introduction of property tax is getting closer and closer, so let's wait and see.
The dust has not yet settled on the property tax, but the landlord tax has quietly arrived
If the property tax is implemented in the next five years, there is a tight time for investors to make strategic adjustments. And just when everyone is focusing on property tax, landlord tax has taken the lead and quietly entered people's field of vision. The Yunnan Provincial Taxation Bureau of the State Administration of Taxation recently issued the "Announcement on Matters Concerning the Collection and Administration of Individual Income Tax on Individual Rental Housing", which clearly states:
Within Yunnan Province, whether an individual rents out his or her own house or subleases it after renting, as long as he obtains rent or other economic benefits, he or she is required to pay individual income tax in accordance with the relevant provisions of "property lease income". From the content of the announcement, it can be seen that landlords in Yunnan Province will have to bear the landlord tax when renting out their houses in the future, and the tax rate is quite substantial, up to 20%. Specifically, if the landlord can provide proof of rental costs, a tax of 20% will be levied on the remaining part of the rent, after deducting the costs, and 10% on the full amount of the rent if the rental cost cannot be provided.
It is worth mentioning that Yunnan Province is not alone, as Hebei Province and Hunan Province have already implemented landlord tax first. This fully shows that the landlord tax is implemented more quickly and flexibly than the property tax, and is expected to be quickly rolled out across the country. The introduction of the landlord tax will undoubtedly increase the cost of property holding for investors, especially for those investors who rely on rental income to maintain their loans, which is undoubtedly a heavy blow.
The second-hand housing market has set off a "selling wave"
Needless to say, both property tax and landlord tax are a heavy blow to speculators. As the property tax implementation date approaches, and the expectation that the landlord tax may be implemented nationwide, the cost of owning a property will become more and more expensive for investors. In fact, with the gradual strengthening of property market control policies, many investors have begun to rush to sell their properties to avoid potential risks. In recent years, with the fall in housing prices, the number of second-hand housing listings across the country has been surging, which is undoubtedly a clear signal.
From an investor's point of view, they invest in property in the first place in pursuit of profit. However, when the income from real estate investment gradually declines, investors will inevitably consider selling their properties in order to make a final profit. Therefore, we have reason to believe that with the deepening of the property market control policy and the implementation of real estate tax and landlord tax, the second-hand housing market may usher in a large-scale "selling wave".
In addition, we have to face the question: will landlord taxes lead to higher rents?