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Transaction fee for new home buyers
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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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