A construction site for a housing complex by Chinese property developer Poly Group is seen in Dongguan, southern Guangdong province, on July 13. Photo: AFP
A construction site for a housing complex by Chinese property developer Poly Group is seen in Dongguan, southern Guangdong province, on July 13. Photo: AFP
Joe Zhang
Opinion

Opinion

Joe Zhang

How lack of a property tax left China open to a housing bubble

  • Local governments’ reliance on a hot property market to sell land and cheap, available credit have been blamed for the bubble, but other factors have been at play
  • Even a property tax as low as 0.5 to 1 per cent could have helped prevent the bubble that is disrupting China’s economy from forming

A construction site for a housing complex by Chinese property developer Poly Group is seen in Dongguan, southern Guangdong province, on July 13. Photo: AFP
A construction site for a housing complex by Chinese property developer Poly Group is seen in Dongguan, southern Guangdong province, on July 13. Photo: AFP
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