Preferential tax policies to boost home sales
China DailyA building under construction in Shanghai. CHINA DAILY Preferential taxation policies unveiled by Shanghai and Beijing are expected to further enable the recovery of local real estate markets by lowering purchase costs and boosting market confidence, industry analysts said on Tuesday. "The policies, which are aligned with the central government's deployment, have shown the municipal governments' resolution in stabilizing the property market," said Liu Zhuowei, an analyst with the China Index Academy. The new policies will reduce personal income taxes and deed taxes in home transactions, which can make trading costs more reasonable and help in stabilizing market expectations," Liu said. "Since last year, a number of measures have been introduced by the departments of land, finance and taxation, and these supportive measures are believed to effectively activate market demand, improve market confidence, optimize supply and demand, and help Shanghai's property market become stable and healthy," Yan said.