财政部等三部委优化多项房地产税收政策点评：地产税收政策落地，助力房地产市场止跌回稳

Investment Rating - The report does not provide a specific investment rating for the real estate development and operation sector, as well as for real estate services [2][3]. Core Insights - The implementation of real estate tax policies is expected to stabilize the real estate market, as announced by the Ministry of Finance and other departments on November 13, 2024 [5][15]. - The new tax policies include significant reductions in deed tax rates for home purchases, particularly benefiting buyers in first-tier cities [6][11]. - The expansion of the VAT exemption range aims to lower transaction costs in the second-hand housing market, enhancing liquidity [11][12]. - The reduction of the land value-added tax pre-collection rate is designed to alleviate financial burdens on real estate companies [12][14]. Summary by Sections Tax Policy Changes - Deed tax rates for individuals purchasing their first home (140 square meters or less) are reduced to 1%, while for second homes, the rate is 1% for homes up to 140 square meters and 2% for larger homes [6][9]. - In first-tier cities, the previous 3% deed tax for second homes has been adjusted to align with the new lower rates, significantly benefiting buyers [6][9]. VAT and Land Value-Added Tax Adjustments - The new policy states that individuals selling homes purchased for over two years will be exempt from VAT, which is a change from previous regulations in major cities [11]. - The land value-added tax pre-collection rate has been lowered, which is expected to ease the financial pressure on real estate companies and stabilize their tax burdens [12][14]. Market Outlook - The report indicates that the recent tax policy implementations are likely to boost buyer confidence and reduce costs, which could help the real estate market recover from its downturn [15].