•Economists say these taxes act as a direct penalty on buying and selling, reducing housing transactions and weakening market liquidity.
•Studies show land-transfer and stamp duties can cut sales volumes by around 5% to 15%, as seen in cities such as Toronto and high-tax European markets.
•In the UK and across Europe, property transfer taxes raise significant revenue, with such taxes reaching about 0.6% of GDP in Britain and 0.7% in France.
•High transaction costs discourage families from relocating for better jobs or schools and deter retirees from downsizing, limiting labor mobility and efficient housing use.
