The recently concluded National Conference on Housing and Urban-Rural Development put forward several specific requirements for next year's urban renewal and real estate work. By focusing on the core issues and key priorities, the path to stabilizing the real estate market next year has become clearer, and precise policy implementation has become the central logic.

According to the requirements of the Ministry of Housing and Urban-Rural Development:

First, existing stock must be handled properly. The ministry stated that local governments should revitalize existing land resources in combination with urban renewal and the renovation of urban villages, and promote the purchase of unsold commercial housing for use as affordable housing, resettlement housing, dormitories, and talent housing. These requirements are highly specific. They not only create an outlet for idle housing in different cities, but also help fill gaps in public welfare support.

Second, demand must be activated precisely. According to the requirements, city governments should make full use of their autonomy in real estate regulation and optimize policies at the right time. At the same time, they should focus on building better homes, use quality upgrades to better meet improvement-oriented housing demand, and keep the channel for selling old homes and buying new ones open and smooth.

Third, multiple institutional arrangements should be used to prevent risks and stabilize confidence. According to the requirements, the white list mechanism should continue to play an active role, and reasonable financing needs of real estate enterprises should be supported. At the same time, the project company system for real estate development should be strengthened in substance, the lead bank system should be promoted in real estate financing, the sale of completed homes should be advanced to achieve what you see is what you get, and where pre-sales are still used, supervision of pre-sale funds should be standardized.

Overall, the policy approach to stabilizing the property market next year is not a one-size-fits-all measure. Instead, it is a precise combination of policies that works from both the supply side and the demand side while optimizing existing stock and new supply together.

Source: Shunwang