房地产：利好频发！三部委优化多项房地产税收政策

Investment Rating - The report indicates a positive outlook for the real estate industry following the recent tax policy adjustments aimed at stabilizing the market [3][16]. Core Insights - The reduction in deed tax rates is expected to lower the cost of homeownership, particularly benefiting the demand for improved housing [7][11]. - The unification of tax policies for first and second homes in major cities is anticipated to further stimulate the market, especially for buyers in first-tier cities [11][16]. - The lowering of the land value-added tax prepayment rate is projected to alleviate financial pressure on real estate companies, enhancing their cash flow [13][15]. Summary by Sections Deed Tax Policy Changes - The deed tax rate for individuals purchasing their only home has been reduced to 1% for properties up to 140 square meters, and 1.5% for properties above that size [6][7]. - For second homes, the deed tax rate is set at 1% for properties up to 140 square meters and 2% for larger properties [6][7]. Value-Added Tax Adjustments - In first-tier cities, individuals selling homes purchased for over two years will be exempt from value-added tax, aligning with national policies [11][12]. - The previous differentiated tax treatment for ordinary and non-ordinary residential properties has been removed, simplifying the tax structure [11][12]. Land Value-Added Tax Changes - The prepayment rate for land value-added tax has been lowered by 0.5 percentage points across all regions, with new rates set at 1.5% for eastern regions, 1% for central and northeastern regions, and 0.5% for western regions [4][15]. - This adjustment is expected to reduce the tax burden on real estate companies, thereby improving their financial stability [13][15].