HOME prices will now factor into calculations of housing title tax in Shenzhen, instead of the previous calculation that was based on home prices per square meter, housing officials announced this week.
The new policy splits Shenzhen’s 10 districts and new areas into six housing price zones, with different price caps that trigger a higher tax rate. Homes sold for less than 3.9 million yuan (US$632,212) in Futian and Nanshan districts, for example, are subject to a title tax of only 1 percent of the total home price, provided they also are smaller than 144 square meters.