Has Changsha deed tax concession landed?

Since June this year, the Hunan Provincial Development and Reform Commission and the Hunan Provincial Department of Commerce have jointly issued "Several Measures for Further Promoting the Sustainable Recovery of Consumption", clearly supporting Changsha to resume the implementation of the preferential tax rate for second-home deed tax. After that, the deed tax concessions for the second suite in Changsha, which received much attention, finally landed.

It is reported that the deed tax payment for the purchase of new houses and second-hand houses is implemented in accordance with the new standards. That is to say, if Changsha citizens buy a second set of improved family housing with an area of 90 square meters or less, the deed tax rate is 1%, and if the area is more than 90 square meters, it will be implemented at 2%.

At the same time, those who paid the deed tax on new and second-hand houses from June 9, 2022 (including June 9) to August 23, 2022 can now go through the tax refund procedures.

In fact, before the implementation of this preferential policy, the second suite, regardless of size, must pay deed tax.

The deed tax rate of the first suite remains unchanged.

Obviously, preferential policies will directly reduce the cost of buying a second suite.

Take a house with a total price of 2 million and an area of more than 90 ㎡ as an example. The original deed tax is 2 million * 4% = 80,000; After the New Deal, you only need to pay 2 million * 2% = 40,000, which is equivalent to reducing the cost by half.

Hunan World Bank believes that this will further stimulate the improvement of demand and stabilize and boost market sentiment.