The Ministry of Housing and Construction is cracking down on the speculation

The Ministry of Housing and Urban-Rural Development held a symposium on real estate work in individual cities, and put forward more requirements for the regulation and control of the property market, including cracking down on speculation in speculation, and strictly observing the city’s poor regulation of the property market.

The Ministry of Housing and Urban-Rural Development pointed out that cities need to strengthen the formulation and implementation of housing development plans, adjust the structure of housing and land supply, and strengthen the development of the rental market. At the same time, cities must also curb speculation in speculation, support the sale of reasonable housing through the implementation of differentiated housing loans and taxation policies, and will crack down on developers and intermediaries that violate laws and regulations.

The Ministry of Housing and Urban-Rural Development stressed that cities should do a good job in the regulation of the property market, systematically analyze the problems and risks of the local property market, implement appropriate policies according to local conditions, implement stable prices, stabilize housing prices and stabilize expectations. The Ministry of Housing and Urban-Rural Development will establish a real estate market monitoring system to improve the evaluation and evaluation mechanism for the local property market regulation and control work.

Property tax draft is expected to be pre-trial in December

The department said it would conduct strict supervision and accountability for cities with large fluctuations in the property market and failure to meet regulatory targets. In addition, Wang Changyong, a real estate tax expert and executive director of the Changping Economic Research Institute, predicts that the mainland’s property tax legislation will be pre-examined in early December and will be voted in 2020. It will be levied in some cities in 2021 at the earliest. The real estate tax cities include Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, Hangzhou and Nanjing.