There is a 0.5% deed tax difference between the first and second suites over 90 square meters. According to the information released by the Hainan Provincial Taxation Bureau of the State Administration of Taxation on September 12, 2023, according to Article 1 of the "Notice of the Ministry of Finance, State Administration of Taxation, Ministry of Housing and Urban-Rural Development on Adjusting Preferential Policies for Deed Tax and Business Tax in Real Estate Transactions", (1) For individuals who purchase the only home for their family (family members include the home buyer, spouse and minor children, the same below) with an area of ??90 square meters or less, the deed tax is levied at a reduced rate of 1%; if the area is more than 90 square meters, the deed tax will be levied at a reduced rate of 1%. The deed tax is levied at a reduced rate of 1.5%. (2) If an individual purchases a second improved house for a family with an area of ??90 square meters or less, the deed tax will be levied at a reduced rate of 1%; if the area is more than 90 square meters, the deed tax will be levied at a reduced rate of 2%. Article 3 stipulates that Beijing, Shanghai, Guangzhou and Shenzhen will not implement the preferential deed tax policy and the preferential business tax policy in Article 2 of Article 1 of this notice for the time being. The business tax policy for personal housing transfer in the above cities will still be in accordance with the Ministry of Finance The Notice of the State Administration of Taxation on Adjusting Business Tax Policies for Personal Housing Transfers will be implemented.