Buying Restrictions Spread Amid Calls for More Controls

Beijing, Tianjin and Suzhou are some of the cities that launched buying restrictions on September 30.

SCMP: Beijing city authorities tighten mortgage rules to cool off buying frenzy

This article details the Tianjin and Suzhou restrictions as well. iFeng: 多地楼市出台重磅新政 打击房价泡沫导向明显

Nanjing tightened restrictions again. iFeng: 南京调控再升级!10月1日起住房公积金贴息贷款取消

Fuzhou joins Xiamen as second city to restrict housing in Fujian province. 福建省第二个市出手了!十余城市将重启限购

Kunshan: 昆山楼市新政:非户籍居民购房受限 控制土地出让

Jinan: 济南房地产调控新规出炉 缩短土地出让价款缴清时间

This spike in home prices is similar to 2009, but with a key difference: developers aren't making any money. 此轮楼市热与09年唯一不同:开发商利润买块地就没了
Jinan, a local industry pointed out that this round of real estate heat wave of 2009 that are very similar, are easing monetary policy stimulus, developers financing costs low, plenty of money. The problem is that in 2009, only a part of that wave saw "flour" more expensive than "bread", but this time, the vast majority of second-tier cities have "flour" more expensive "bread", although the developers earn a lot of money, but a single "land king" purchase will give it all back.

Dr. Qiu Baoxing, former Vice Minister of Housing and Urban-Rural Development says the time has come for State Council regulation: 住建部原副部长上书国务院建议调控楼市:到时候了
Qiu said, "Some time ago I submitted a proposal to the State Council, it is that the real estate market, it is time to consider a moderate, decentralized, non-centralized control policies. Now affect the entire real estate trends have two swords: the first sword is the real estate tax, the sword is the renewal of property rights issue and the introduction of these two policies is not easy, which mixed with a lot of sensitive areas and profit interests."

In this connection, he proposed the idea, first of all, make us the most sensitive real estate taxes into a combination of taxes, at least four types of taxes , that consumption tax , vacant tax, transfer tax, property tax, depending on the circumstances measures and policies to increase the levy reasonable. In Rome and other Italian practiced excise duty for example, the embodiment of the first set of buyers duty, the second set of buyers, 14% of the consumption tax, the third set of buyers levied 26% excise tax, the fourth suite impose a 40 percent excise tax ... ... this is known as the real estate storm of instantaneous hot coolant.

"More importantly, we should give control over the tax rate and credit policies to the local government, the local government can differentiate immediate demand and speculation, and responsibility system established afterwards by a similar manner to straighten out the relationship between the interests of the central and local governments."Qiu said.

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