Efforts were made to stabilize the property market in various places, and more than 170 policies were introduced one after another
This year's "Government Work Report" clearly included "stabilizing the property market and stock market" in the overall requirements for economic and social development in 2025. Continuing to promote the real estate market to stop falling and stabilize is not only related to risk prevention in key areas, but also a key move to boost consumption and expand domestic demand. All localities responded positively and introduced real estate-related policies one after another to promote the stable and healthy development of the market.
According to the data of the Middle Finger Research Institute, since the beginning of this year, more than 170 real estate-related policies have been issued across the country, of which more than 60 have been issued after the two sessions. These policies cover multiple aspects, from the demand side to the supply side, with comprehensive efforts. On the demand side, many places focus on reducing the threshold and cost of home buyers. For example, in the adjustment of provident fund policies, there are frequent actions. In March, Shenzhen raised the maximum loan amount for families to 1.10 million yuan. When purchasing the first house, the maximum amount can rise by 40%, families with many children can rise by 50%, and the purchase of affordable housing can rise by 20%. After the three superpositions, the maximum loan amount can be raised to 2.31 million, which greatly reduces the rigid demand and the financial pressure of the improved housing buyer group. More than 30 places such as Hangzhou and Suzhou are also optimizing the provident fund policy during the same period, including reducing the down payment ratio, increasing the upper limit of the loan amount, and optimizing the identification standard of the number of sets. On April 3, Changzhou innovated the housing provident fund payment policy, establishing a supplementary housing provident fund mechanism and providing voluntary payment subsidies to enhance the loan ability of home buyers.
In addition to provident fund policies, some cities have also innovated and launched characteristic financial products. Suzhou Housing and Urban-Rural Development Bureau and Financial Institution Group have launched "three lows and one width" products, with the minimum down payment ratio reduced to 15%. Those who meet the conditions can enjoy the lowest commercial loan interest rate. Some Financial Institution Groups also provide products that allow buyers to repay the minimum principal of only 100 yuan per month for the first five years, extending the principal repayment period and relieving the pressure of early repayment of housing purchases. Nanjing launched "Xinqing Loan" for new citizens and young people under the age of 45, which also supports reducing the pressure of early repayment.
On the supply side, localities have actively implemented incremental policies such as the renovation of urban villages and dilapidated houses, the purchase and storage of existing land and commercial housing. Hunan Province has proposed to support cities and states with conditions to use special project bonds and housing provident fund value-added income to purchase existing commercial housing for affordable housing. Jiangsu Province said it will focus on the expectations of the masses, optimize the resettlement method, actively purchase existing housing to raise housing resources for resettlement, and encourage housing ticket resettlement. Shenzhen also issued relevant opinions to explore the establishment of a housing ticket system.
Under the policy efforts, the real estate market has initially seen positive results. According to data from Shanghai E-House Real Estate Research Institute, among the 50 sample cities across the country, the transaction area of new commercial housing in first-, second- and third- and fourth-tier cities rose by 111%, 101% and 67% respectively in March.
The experts interviewed believe that the current policy of "stabilizing the property market" has sufficient reserves, and there is still room for future incremental policies to be implemented. Follow-up policies can be implemented to reduce restrictive measures due to city policies, rationally control the supply of new land, revitalize existing land, acquire existing commercial housing, promote the "whitelist" mechanism to be implemented faster, and provide enterprises with greater financing support. Continue to optimize, and continue to boost market confidence. Help the real estate market to stop falling and stabilize, and move towards a healthy development track.