Author(s)

Chen Ningyan

Corresponding Author

Chen Ningyan

ABSTRACT

The house is of great significance in Chinese concept. Young people who are new to the first-tier cities are deterred by the high housing prices. Meanwhile the residents in the second and third tier cities have to face housing prices that do not match their wages. Controlling house prices plays an important role in the steady development of China's economy. Nowadays, China's way of controlling house prices is to restrict the purchase of houses. In the future, a combination of real estate purchase restriction and property tax in the ownership process are feasible to be promoted. The collection of property tax in the ownership process is mainly for the maintenance process. Taking Shenzhen as an example, the Shenzhen registered residents have a lot of knowledge of property tax in the ownership process and a relatively high degree of acceptance of property tax in the ownership process. This is the basis of the feasibility of the implementation of property tax in the ownership process. In the long run, property tax in the ownership process can effectively control house prices, make local governments get rid of the dependence on land finance, and promote the development of the real economy. At the same time, the property tax in the ownership process can also reduce the cost of enterprise leasing and crack down on real estate speculators.

KEYWORDS

Property tax in the ownership process in china, Property purchase restrictions, Real estate prices, Registered residents in shenzhen