Shanghai issued the “Notice on Policies and Measures to Further Optimize the City's Real Estate Market” to adjust the housing tax policy: adjust the value-added tax exemption period and adjust the value-added tax exemption period for individuals selling housing abroad from 5 to 2 years. In accordance with the national work plan, ordinary housing standards and non-ordinary housing standards will be promptly abolished, housing transaction costs will be reduced, and residents' needs for improved housing will be better met. This notice is effective as of October 1, 2024.

Shanghai issued the “Notice on Policies and Measures to Further Optimize the City's Real Estate Market” to adjust the housing tax policy: adjust the value-added tax exemption period and adjust the value-added tax exemption period for individuals selling housing abroad from 5 to 2 years. In accordance with the national work plan, ordinary housing standards and non-ordinary housing standards will be promptly abolished, housing transaction costs will be reduced, and residents' needs for improved housing will be better met. This notice is effective as of October 1, 2024.