三部门：延续居民换购住房退税优惠！

Core Viewpoint - The announcement by the Ministry of Finance, State Taxation Administration, and the Ministry of Housing and Urban-Rural Development extends the personal income tax refund policy for residents exchanging homes until the end of 2027, aiming to stimulate the housing market and reduce transaction costs for families [1][3]. Summary by Sections Policy Extension - The personal income tax refund policy for residents exchanging homes, initially introduced in September 2022, has been extended to December 31, 2027 [3]. - The policy allows taxpayers who sell their own homes and purchase new ones within one year to receive a refund on the personal income tax paid on the sale [3]. Tax Refund Details - If the purchase price of the new home is greater than or equal to the selling price of the current home, the entire personal income tax paid will be refunded [3]. - If the purchase price of the new home is less than the selling price of the current home, the refund will be proportional to the ratio of the new home's purchase price to the selling price of the current home [3]. Market Impact - The policy is expected to encourage families with homes held for less than five years or those owning multiple properties to engage in home exchanges, thereby increasing the activity in the secondary housing market [3]. - The continuation of the tax refund policy reflects a commitment to market stability and is anticipated to lower the purchasing costs for families looking to upgrade their housing, thus promoting demand for improved housing [3][4]. Broader Market Context - Recent policies aimed at stabilizing the housing market have focused on reducing transaction costs, as evidenced by the recent reduction in the value-added tax for homes sold within two years [4]. - Experts suggest that the ongoing decline in transaction prices in the secondary housing market indicates a need for policies that facilitate smoother home exchanges [4].