Since the meeting of the central political bureau on 26 september 2024, the regions have moved quickly to adjust their policy measures to implement “four cancellations, four reductions and two increases” and have joined forces with regard to housing, finance, taxation, finance and land; in october, china's real estate industry association “100-city commercial housing promotion” was actively launched, and housing consumption support was stepped up to better meet rigid and improved housing needs。
Since the fourth quarter of 2024, the overall situation in the national real estate market has been positive. In the fourth quarter, sales of new commodity houses increased by 0. 5 per cent and 1. 0 per cent, respectively, with real estate showing a steady decline. In december, the sales of new commodity houses in 40 priority cities increased by 0. 3 per cent and 4. 1 per cent, respectively. In 23 of the 70 large and medium-sized cities, the price of new residential housing rose in december 2024 and the price of secondary housing rose in 9 cities. For the first time since june 2023, the sale price of new residential housing in a front-line city increased for three consecutive months。
A wide range of property easing policies, such as encouraging monetization to promote the upgrading of urban villages and homes at risk, reducing taxes on the overall promotion of housing transactions, and eliminating general housing standards, have released the potential for rigid and improved demand for housing, which is one of the policy priorities. On 13 november 2024, the ministry of finance, the general tax administration and the ministry of housing, urban and rural construction, among others, issued a circular amending the 1 per cent tax entitlement policy from 90 square metres to 140 square metres and providing a precise incentive to improve the tax entitlement to sexual demand. Overall, the downward trend in the national real estate market began to reverse, showing a “sliding back” trend。
In recent years, the per capita housing construction area in our cities and towns has exceeded 40 square metres, with the ratio of first-, second- and third- and fourth-line urban housing units of 0. 97, 1. 08 and 1. 12, respectively, and the housing development phase is moving from “no” to “okay”. In the recent past, prime minister li has set four criteria for a good house: “safe, comfortable, green, intelligent”, emphasizing the need to promote good housing, taking into account the new needs of different housing practices, age groups, economic abilities, etc., in particular ageing and child-friendly housing, in terms of function, quality, experience, and with a view to improving the quality and well-being of residents. Some provinces and municipalities have also introduced building standards and incentives for building houses. For example, in chinan, policies have been put in place to regulate loans from the provident fund and differential pre-sale funds to encourage housing enterprises to develop and build good houses. In the future, more housing enterprises, especially large ones, will be developing and building good houses, and the quality of housing is expected to improve comprehensively。
The spirit of the 926th conference and the national conference on urban and rural construction called for the direction of the work on real estate in 2025: “strengthening, optimizing stock and improving quality”, support for the idle stock of land and optimizing the supply structure of commercial housing; steady implementation of urban renewal, stabilizing rigid and improved demand for housing through the implementation of the renovation of urban villages and dangerous old houses; and policy readjustments around the concepts of safety, comfort, greenness, wisdom and the promotion of the overall upgrading of housing. At the same time as city-driven measures to stabilize the real estate market in various locations, the acceleration of the construction of a new model of real estate development will be the main melody of the real estate market in 2025。
From the china construction journal 2025. 03. 04 executive vice-president of the jenan city real estate association, li gang
