Should Beijing levy property tax?

China's state council (the cabinet) said in a recent statement that the government is considering introducing a property tax as part of a property industry overhaul. Such reforms, it is argued, will prevent speculative purchases. Taxing buyers, it is thought, will increase the cost of holding property, thereby improving the sustainability of China's real estate prices. Tax levels would likely be relative to the size of the property and the number of properties owned.

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