The effect of deed taxes on real estate prices in China

Wenjing Li (), John Anderson and James R. Schmidt ()
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Wenjing Li: University of Nebraska-Lincoln
James R. Schmidt: University of Nebraska-Lincoln

Asia-Pacific Journal of Regional Science, 2020, vol. 4, issue 2, No 3, 317-341

Abstract: Abstract With rapidly accelerating real estate prices in China, the government has used changes in deed tax rates to affect demand. Tax rates have been increased for buyers of large or multiple homes to discourage speculative demand. We analyze the effects of deed tax rates on real estate prices over the period 2004–2013, estimating traditional dynamic models and dynamic spatial models. Results indicate that deed tax rate increases have a negative effect on pre-tax prices for both residential units and land use rights. Spatial spillover effects are also found in the residential market, with larger effects in the long term.

Keywords: Deed taxes; Real estate prices; China; Spatial spillovers (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s41685-020-00147-7

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