China Real Estate Register Unlikely to Expedite Property Tax
- Unified real estate registration system updates in real time
- System considered a stepping stone for real estate tax
Residential buildings in Zhengzhou, Henan province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s move to set up a nationwide real estate registration system lays the groundwork for a property tax, though the levy is unlikely to be introduced any time soon given the fragile housing market, analysts say.
The unified asset network, established after a decade of work, has more than 1.5 billion records nationwide and will update in real time, the state broadcaster reported Tuesday, citing the Ministry of Natural Resources.