Property Market
The worry for Korean officials is that a spiraling property market will come crashing down and cut economic growth at a time when the won, the country’s currency, is appreciating and potentially making Korean exports less competitive.
In Japan, low interest rates and a cheap yen have made money easily available to invest in higher-yielding assets (the so-called yen-carry trade). This helped to fuel property appreciation worldwide, but also distorted prices for real estate and listed property shares at home.
In late January 2009, it announced that it would enforce a capital gains tax on real estate sales, a move that could take a bite out of developers’ profit margins. Meanwhile, government officials have made clear that affordable housing for first-time buyers would continue to be apriority. The country is also in the process of fine-tuning its law on property rights, which will give property holders more legal protections.
In January 2009, the country’s construction minister said that a 2010 rule meant to ensure that developers build more low- and mid-range housing units would be strictly enforced. Premier Wen Jiabao echoed the sentiment in a speech to the Chinese legislature in early March, noting that the country should focus on development of “reasonably priced” commercial housing, according to media reports.
The 2010 rule requires developers to allocate70% of future residential projects for apartments no larger than 90 square meters (approximately 970 square feet). It was aimed at cutting the supply of luxury apartments, which had been a high-margin business for developers, but a sector rife with speculation.
The tax was instituted in 1994, though developers largely avoided paying it. Clear guidelines for estimating the amount owed were never formulated. The tax ranges from 30% to 60%, depending on the value of the gain after any applicable deductions, such as construction costs. Share prices of developers in China and Hong Kong, as well as stock in property companies elsewhere in Asia with projects in China; fell in response to the news that the tax would be enforced. At risk are developers’ property margins, although several subsequently said they had set aside funds for the tax.
房地产市场
韩国官员担心的是一个螺旋式上升的房地产市场会倒塌，当时赢得削减经济增长，该国的货币，是欣赏和可能使韩国的出口竞争力减弱。
在日本，低利率和便宜的日元使资金投资于高收益资产，容易获得的（所谓的日元套利交易）。这助长了全球物业升值，而且扭曲的房地产价格和上市地产股在家。
一月晚2009时，它宣布将实施税收对房地产销售的资本利得，此举可能咬着开发商的利润率。同时，政府官员已经明确表示，经适房首次购房者将继续优先。该国正在微调的财产权利的法律，这将给物业持有更多的法律保护。
2009一月，国家建设部部长说，2010的原则是保证开发商建造更多低、中档的住房单位将严格执行。国务院总理温家宝的观点在3月初对中国立法机构的讲话，指出国家应重点发展的“价格合理”的商品房，据媒体报道。
2010条规则要求开发商allocate70 %的公寓不大于90平方米的未来住宅项目（约970平方英尺）。这是针对切割豪华公寓的供应，这已经为开发商高利润的生意，但是一个部门盛传。
税收是建立在1994，虽然在很大程度上避免支付开发商。估计金额并没有制定明确的指导方针。从30%到60%的征税范围，根据任何适用的增益值扣除后，如施工成本。在中国和香港开发商的股价，以及在物业公司在亚洲其它地区的项目在中国的股票；应声下跌，税收会被执行的消息。危险的是开发商的房地产利润，尽管随后表示他们已预留的税收资金。
