Research On Controlling Effect Of Taxation Policies In The Second-hand Housing Market Of China

Since the emergence of China’s real estate market in the 1990s, the new commercial residential building has always been the main part of the real estate market, which is also the same to the transaction of the housing market.Overall, in recent years, although the proportion of second-hand housing transactions has increased annually, it doesn’t possess a high proportion in the total residential trade.The main problem that the China’s housing market is currently facing is the imbalanced structure of the housing share problems, namely the high-income family housing surplus combines with the the low-income shortage. The maintain links in the chinese real estate relatively involved a small number of categories taxes and light tax burden, which reduces the financial risk of real estate ownership, and objectively foster the demand for real estate speculators. Under such a structure of the distribution of tax burden, in recent years, the government policy is still implemented in the intermediate links. These policies not only inhibit the investment and the speculative demand, but also affect the normal trading in the second-hand housing market and accidentally harm the normal consumer demand. The Home Ownership Scheme doesn’t work out via the control and adjustment of the real estate taxation, causing the land resources incompletely utilized.Based on the effect of the tax regulation of residential secondary market research, this dissertation designed to improve the real estate tax system, succeeding not only in inhibiting the investment and the speculative demand though the tax policy but also in promoting the circulation of second-hand housing market and meeting the housing needs of different income groups .In this dissertation, the main content of the research is:On the basis of sorting out the domestic and foreign theories about the control of real estate tax, summarizing the theoretical basis of this research systematically, including the theory of Demand and supply, the theory of housing market failure, the theory of tax regulations and the thoery of Tax Effect.On this basis, making an comprehensive introduction on the current situation and the development of the China’s secondary housing market, formulating the procedure of the current real estate tax system, and summing up the Tax Regulation Policies in the recent years in China.In this dissertation, partial equilibrium and general equilibrium is used to analysis the tax policy of attribution and passed on to a deep analysis, and collected relevant data of the secondary housing market in China, econometric analysis, using actual data to prove that the tax policy has an important effects on second-hand housing prices and trading volumes. What’s more, this dissertation also introduces some foreign tax policy in the regulation of secondary markets in developed countries, and was inspired from abroad in the real estate tax system. Further more, proposed property tax as the main body with the commodity tax and income tax of the tax system at the same time. This tax system can achieve the effect of holding back investment and speculative demand and promote the rational circulation of the secondary housing market, residential filtration mechanism smoothly.