In recent years, the central government has introduced a number of policies to reduce or adjust real estate taxes, covering three major tax categories: deed tax, personal income tax, and value-added tax. According to calculations by the Shanghai E-House Real Estate Research Institute, once these tax reduction policies for the three major real estate tax categories are fully implemented, annual tax savings from housing transactions nationwide could reach approximately 100 billion yuan. From the perspective of homebuyers or sellers, these tax reduction policies are not merely “symbolic benefits” amounting to a few thousand yuan for ordinary families, but rather cash savings ranging from 100,000 to 500,000 yuan. For homebuyers in first-tier cities looking to upgrade their homes, the reduction in tax burden is even sufficient to cover a family’s living expenses for two to three years. (Yicai)