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Housing is out of reach // OECD proposes changing property taxes to cope with prices

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Years of steady growth in the price of a square meter, which has accelerated during the pandemic and may receive a new impetus in the form of rising central bank rates in developed countries, makes it increasingly difficult for the young and poor to access housing, and an increasing share of housing is concentrated in the ownership of high-income households, states the study of the Organization for Economic Cooperation and Development (OECD). Analysts propose to solve the problem by improving the redistribution: regular updating of data on the value of real estate for tax purposes, limiting tax incentives for its sale and investment in the repair and construction of social housing. .

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