The end of the billion-dollar house price 150 million

Tightening the transfer of real estate tax is considered a policy that has a significant impact on investors. According to Mr. Van (Hanoi broker), currently, tax declaration documents, if not close to the market, are returned. Previously, the buyer and seller would agree to declare tax with an equivalent value according to the price list prescribed by the State. For example, a house in Ha Dong 35m2, 5 floors has a transaction price of about 2.3 billion VND, but if the property is not listed in the pink book, the price according to the regulations of the State is only equivalent to 150 million VND. . With this number, the transfer tax amount fluctuates at several hundred thousand.

Mr. Van said that, in fact, the purchase and sale price is an agreement between the buyer and the seller, so it is difficult to quantify. Up to now, the tax declaration is stuck in the point of giving an appropriate price and must be “close to the market”. But “how close” is difficult to have an exact measure. “This is the reason that investors and brokers are having a hard time,” said Mr. Van.

Tightening the transfer of real estate tax: At the end of the time, the billion-dollar house declared for 150 million VND - Photo 1.

Analyzing more deeply the impact of the real estate transfer tax tightening on the market, Mr. Le Quoc Kien, who has more than 10 years of experience in the field of real estate analyzed, the real estate tax tightening is having an impact. to two main groups of investors.

The first is the less affected group, including apartment projects and urban areas deployed by investors.

With this group, because there is a selling price announced by the investor in the media, and the purchase and sale contract between the investor (F0) and the buyer (F1) is also based on this price, when buying sale between F1 and F2 buyers, the taxable price cannot be too different from the price on the sale contract – the reference price.

Because, a large price difference (if any) often occurs when the customers who have bought the secondary (F2-F3) resell to the latter (F3-F4) at a much higher price compared to the original price on the purchase contract. the first sale of the investor.

For example, if an investor announces a price of 2 billion, F1 sells F2 for 2.5 billion, it cannot declare tax below the price of 2 billion. But if From F2 to F4 gradually increased to 3.8 billion, there would be a tolerance of 2 billion – 3.8 billion.

Second, with the most affected group, which is land plots and townhouses, especially land plots in the province. For this group, since there is no officially published actual price, there is no reference price. This group is being referenced by the government’s price, which has a large lag compared to the market, the relatively large difference between the tax payment price and the actual price. In particular, the difference between land plots and townhouses is more because the house construction value is taxed closer to the land price.

However, regardless of the group, the tax rate, if applied to reality, will only affect the selling price by about 0.5% – 1.5% (equivalent to a total tax rate of 2%, currently paying 0.5%). % – 1.5%, because the seller will add to the selling price. For example, in the past, selling property for 5 billion VND to pay 30 million in tax according to the state price bracket, now selling it for 5.07 billion (the additional 70 million VND is the compensation for the full 2% of the transfer tax). This 0.5% – 1.5% tax increase to pay enough will hardly affect the real estate market, which has experienced an average price increase of 20%-30% per year from 2016 to now. Therefore, this does not affect many medium and long-term investors.

This tax squeeze may hit the short-term surfers hardest, who only need 5% – 10% profit in a 1-2 month trade. For example, a piece of land 1.8 billion, after depositing 200 million, send the broker to sell the difference immediately for 1.9 – 1.95 billion. Assuming you can’t sell and have to stack 1.8 billion hugs and then continue to wait for the broker to release the goods, then when adding the brokerage commission costs of 1%, the purchase registration tax is 0.5% (strictly closed. enough according to the purchase price), personal income tax of 2% (which is forced to pay in full according to the purchase price), will make surfing investors falter. This is also a positive point for the real estate market, because short-term investors are the factors that push real estate prices up rapidly in a short time.

Besides, the real estate transfer tax is not really a new law, just that the tax authorities are doing “correctly” with the existing law. The purchase and sale price subject to tax is still regulated and applied according to two criteria: One is the actual price and must not be below the state price bracket. The difficulty of the tax authorities is that the state price has a frame, but the market price does not. Therefore, they can only do not below the state price bracket.

In order for the tax authorities to tighten the “actual price” clause, there needs to be a price bracket for them to apply. The simplest is that the state updates the price bracket without deviating more than 20% from the market. In fact, if there is no sudden change in urban infrastructure development, real estate in the central areas / cities will increase by an average of 15% – 20% per year. Real estate in the suburbs and remote provinces increase by an average of 30% – 50%/year (of course, the liquidity is much lower than that of real estate in the city center).

However, although the government updates the price bracket every year, the price according to the state framework in the center is only 30% – 60% of the market, in the remote provinces, it is even 10% – 25% of the price. market. For this reason, there is a contradiction between the state price bracket and the people’s transaction price, which also contributes significantly to the fact that people do not declare the actual selling price, which is “paying tax according to the actual selling price”. market, but compensated at the state price”.

According to Hainan

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