二手房交易增值税大幅下降 专家：促进市场良性循环

Core Viewpoint - The new policy on individual sales of housing value-added tax (VAT) aims to reduce transaction costs and stimulate the housing market by lowering the VAT rate from 5% to 3% for properties held for less than two years, effective January 1, 2026 [1] Group 1: Tax Policy Changes - Individuals selling properties purchased for less than two years will now pay a VAT of 3%, down from the previous rate of 5% [1] - Properties held for two years or more will be exempt from VAT [1] Group 2: Market Impact - The reduction in transaction costs is expected to facilitate sales, particularly for those needing to sell quickly, thereby stabilizing housing prices [1] - The new policy is anticipated to enhance liquidity in the housing market by alleviating the financial burden on sellers [1] Group 3: Market Data Insights - As of December 2025, the average price of second-hand residential properties in 100 key cities is 13,531 yuan per square meter, reflecting a month-on-month decline of 0.43% and a year-on-year decline of 4.3% [1] - In first-tier cities, the average price is 52,885 yuan per square meter, with a month-on-month decline of 0.36% and a year-on-year decline of 4.99% [1] - The real estate market is expected to continue its downward trend in 2026, but the rate of decline is projected to slow, indicating a potential stabilization in core cities and regions [1]