《房地产市场平稳健康发展有关税收政策的公告》点评：房地产交易环节税费降低

Policy Changes - The announcement on November 13, 2024, includes multiple tax incentives to support the real estate market, such as increasing the area threshold for a 1% deed tax rate from 90 square meters to 140 square meters[1] - The deed tax for the first and second homes, if under 140 square meters, will be uniformly taxed at 1% across major cities like Beijing, Shanghai, Guangzhou, and Shenzhen[1] - For homes exceeding 140 square meters, the deed tax will be reduced to 1.5% for the first home and 2% for the second home[1] Tax Reductions - The value-added tax (VAT) will be exempted for individuals selling homes purchased for over 2 years, applicable to all cities, thus eliminating previous VAT regulations for non-residential properties in major cities[1] - The lower limit for land value-added tax pre-collection rates will be reduced by 0.5 percentage points across all regions[1] Market Impact - Recent policy adjustments aim to stabilize the real estate market by addressing both supply and demand sides, promoting a recovery in housing transactions[1] - The central government's focus on stabilizing the real estate market includes increasing loan support for "white list" projects and adjusting housing purchase restrictions[1] Risks - Potential risks include the possibility that policy effects may not meet expectations, slow improvement in resident confidence, and increasing credit risks in the real estate sector[1]