Homebuyers at a show room during a real estate fair in Shanghai on October 5, 2010. Photo: AP
Homebuyers at a show room during a real estate fair in Shanghai on October 5, 2010. Photo: AP

Shanghai and Chongqing offer hints of how China’s property tax would work, and be ignored by runaway home prices

  • The property tax, tested in Shanghai and Chongqing in 2011, had their nationwide adoption deferred in 2013
  • The tax, which still remains in place in both cities, did nothing to stem housing costs, with Shanghai’s average home price soaring 155 per cent since 2011 while Chongqing rose 108 per cent

Topic |   China property
Homebuyers at a show room during a real estate fair in Shanghai on October 5, 2010. Photo: AP
Homebuyers at a show room during a real estate fair in Shanghai on October 5, 2010. Photo: AP
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