Trade-ins Give Shot in Arm to China's Housing Market
China News
August 16, 2024
Home trade-in programs, now active in over 100 cities across China, are giving a significant boost to the domestic real estate market. Zhengzhou City in central Henan Province, a pioneer of the initiative since April, has introduced tax breaks and incentives for buyers who trade in their old homes, some up to 20 years old, for new properties. These measures have positively impacted property transactions, contributing to the recovery of the housing sector.