The latest data released by the State Administration of Taxation shows that from December 1, 2024, new tax reduction policies such as real estate transaction deed tax preferential treatment will be implemented nationwide. In the first month of the policy implementation, the tax reduction dividends will continue to be released, promoting the stable and healthy development of the real estate market.

Data shows that in the first month of the implementation of the new real estate tax policy, home buyers nationwide added 11.69 billion yuan in tax exemptions.

According to reports, the new policy increases the housing area standard for individuals who enjoy a 1% discount on housing deed tax from the original 90 square meters to 140 square meters, and this policy adds a new tax reduction of 6.5 billion yuan. After the implementation of the policy, 1.407 million households who individuals who purchase housing and enjoy the minimum preferential tax rate for 1% deed tax, accounting for 89.4% of all households who enjoy the preferential tax policy for deed tax, an increase of 14.4 percentage points from before the implementation of the policy.

In addition, the new policy includes the purchase of second houses in Beijing, Shanghai, Guangzhou and Shenzhen in the scope of preferential deed tax policies, with an additional tax reduction of 2.58 billion yuan. Taxpayers who meet the conditions for second-home housing in four cities have reduced taxes of 800 million yuan, 940 million yuan, 250 million yuan and 590 million yuan respectively.

At the same time, the new policy will no longer distinguish between ordinary residential and non-ordinary residential housing for individuals in Beijing, Shanghai, Guangzhou and Shenzhen for 2 years. Value-added tax will be exempted from uniformly. In the first month of the implementation of the new policy, the number of individual transfers of original non-ordinary residential properties in Beijing, Shanghai, Guangzhou and Shenzhen increased by 2.61 billion yuan in tax exemptions, and the number of individual transfers of housing units increased by 71% compared with the previous month.

(CCTV reporter Li Xia)