He stated this during a speech at the XX Congress of the United Russia party, RIA Novosti reports.
According to him, if the property is owned for less than five years, income tax is paid on the sale of real estate.
“Sometimes this amount for a specific family is significant, and it is precisely this amount that is not enough so that this family, when the next children are born, can quickly buy new housing,” the president says.
The head of state proposed to introduce tax benefits for families with two or more children.
“I propose to exempt families with two or more children from paying tax on income from the sale of residential real estate, if during a calendar year they send the funds received to buy new housing,” Putin said.
The State Duma in May proposed to reduce the income tax rate for working students.