China Unveils Tax Breaks to Boost Property Market Confidence

China’s Ministry of Finance has unveiled a new strategy to stimulate the property market by offering tax breaks to homeowners.

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Under the new policy, homeowners can receive a full refund of their personal-income tax if they sell their current home and purchase a new one with equal or greater value.

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However, these incentives are only applicable for homes that are purchase and sold within the same city.

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China’s move to introduce tax breaks and mortgage-easing rules demonstrates its commitment to supporting the property market and promoting homeownership.

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These strategies are expect to play a role in influencing the decisions of homeowners and potential buyers, ultimately contributing to the recovery of the real estate sector.

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