The property tax could range from 0.5% to as much as 2% to 3% according to the latest report. (Chinese Real Estate Tax 0.5%, More For Investment Properties).
The rental yield in Beijing is barely more than 2%. Shenzhen, Guangzhou and Shanghai are all similar. Xiamen's rental yield is 1.5% in the city center. Yields improve in lower tier cities and out west are better, but still only about 5%.
Retired people who received their home from their company have very low income and have very low housing costs, which is good because their pensions are very small. Their homes in cities such as Beijing may be very valuable though. Even a 0.5% real estate tax could equate to months of spending for retirees, there are probably cases where the tax will be more than 100% of their annual income.
Planetree (0613): breach of Listing Rules: undisclosed loans to South Shore
(ex-0577) and Charles Chan Kwok Keung
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Mr Chan paid interest at 18% p.a. quarterly (19.25% APR) for the loans
totalling HK$26m granted to him in June 2021.
Source: Company announcement | Source d...
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