An Empirical Analysis of the Impact of Real Estate Tax System on Housing Price in Hong Kong

摘要

This paper selects Hong Kong from 1999 to 2015 as the sample period, sets the variable to the private residential retail price index HP and the real estate related tax revenue HT, selects the multi-log logistic regression model method, empirically analyzes the profits tax, stamp duty, the impact of general rates and property taxes on the retail price index of private housing in Hong Kong. The results show that the real estate tax on the retention link has only a limited impact on the price of private housing. The promotion of property tax is more obvious, and the general difference is less affected. The real estate tax on the transaction link has a significant impact on housing prices. Profits tax has a significant positive effect, and stamp duty also has a driving effect, but the effect is weak. Increasing the tax on the transaction link will stimulate the housing price to rise further. According to the empirical results, this paper believes that the Hong Kong government should further clarify the role of real estate tax, give full play to the government’s functions in the real estate market, simplify the real estate tax system, and improve the property tax package, in order to play a role in the real estate tax to suppress housing prices.