Reported 8 months ago
Guo and Tian/Taipei report on June 19, 2024, at 4:10 PM. Property Hoarding Tax 2.0 is set to be implemented next month, with a 4.8% heavy tax on developers' luxury houses and unsold properties, prompting a quick sale of such properties. Real estate agents have noted a rise in transactions of luxury properties held by developers for over five years since the approval of the Property Hoarding Tax 2.0. Developers are rushing to sell these properties to reduce holding costs before the new tax policy takes effect.
Source: YAHOO