换房退个税政策延续实施 专家：体现对今年着力稳住房地产市场的支持

Core Viewpoint - The announcement from the Ministry of Finance, State Taxation Administration, and Ministry of Housing and Urban-Rural Development extends the personal income tax refund policy for residents who sell their homes and purchase new ones within a year, aiming to stimulate housing demand and stabilize market expectations [1][2]. Group 1: Policy Details - The tax refund policy will be effective from January 1, 2026, to December 31, 2027, allowing taxpayers to receive a refund on the personal income tax paid on the sale of their current home if they purchase a new home within one year [1]. - If the purchase price of the new home is equal to or greater than the selling price of the current home, the entire amount of personal income tax paid will be refunded; if less, the refund will be proportional to the new home's purchase price relative to the selling price [1]. Group 2: Market Implications - The extension of the tax refund policy is seen as a continuation of previous measures aimed at reducing transaction costs, which is expected to enhance market activity and support housing demand, particularly for families looking to upgrade their homes [2][3]. - The combination of this policy with other measures, such as reduced VAT on homes sold within two years, is anticipated to accelerate transaction flows and improve market expectations, potentially leading to further extensions of beneficial policies [2]. Group 3: Expert Opinions - Analysts believe that the ongoing support for housing improvement and exchange demand reflects a commitment to stabilizing the real estate market, with expectations of robust demand for home exchanges in many cities [3]. - The expansion of second-hand home transactions is expected to positively impact the new home market and other improvement markets, suggesting that local governments should effectively utilize these policies to enhance market activity [3].