利好再续！换房退个税政策延至2027年底，交易成本下降

Core Viewpoint - The policy for tax refunds on housing exchanges has been extended again, reflecting ongoing efforts to alleviate market pressures and stimulate housing transactions [1][5]. Group 1: Policy Details - The new policy will be effective from January 1, 2026, to December 31, 2027, allowing taxpayers who sell their own homes and purchase new ones within one year to receive a tax refund on the personal income tax already paid [2]. - If the purchase price of the new home is greater than or equal to the selling price of the current home, the entire amount of personal income tax paid will be refunded. If the new home purchase price is less, the refund will be proportional to the new home's price relative to the selling price [5]. Group 2: Market Implications - The continuous extension of this tax refund policy indicates a strong commitment to support the housing market, as it aims to reduce transaction costs and enhance market activity, ultimately stabilizing overall tax revenue [5]. - The current housing market is experiencing significant stagnation, particularly in the secondary housing market, where transaction prices are declining, hindering the "sell one buy one" cycle. The tax exemption on housing exchanges is expected to lower transaction costs and release pent-up demand [5]. - The government is also implementing other measures to reduce transaction costs, such as interest subsidies on housing loans in certain cities, especially in light of weakening employment and income expectations [6].