China’s Ministry of Finance has unveiled a new strategy to stimulate the property market by offering tax breaks to homeowners.
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.
However, these incentives are only applicable for homes that are purchase and sold within the same city.
China’s move to introduce tax breaks and mortgage-easing rules demonstrates its commitment to supporting the property market and promoting homeownership.
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.