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August 4, 2016

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Transaction fee for new home buyers

BUYERS of new homes should pay 2 yuan (30 US cents) per square meter of gross floor area as a transaction fee from this month, according to a latest notice jointly issued by the Shanghai Price Bureau and the Shanghai Finance Bureau.

For buyers and sellers of pre-owned houses, they should equally share the transaction fee of 4 yuan per square meter.

For non-residential new properties, the transaction fee is 9 yuan per square meter for buyers, Buyers and sellers of current non-residential properties should split the fee of 18 yuan per square meter.

Transaction fee in any single case should not exceed 20,000 yuan, the notice said.


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