New efforts to stabilize housing market
Print Edition
The Ministry of Housing and Urban-Rural Development has pledged to continue efforts to stabilize the real estate market and reverse its downturn in 2025.
China will focus on unlocking housing demand by fully implementing a mix of policies to support people’s needs for buying their first homes or improving their housing conditions, said a ministry official during a two-day national housing and urban-rural development work conference that ended yesterday.
China’s property market has shown positive momentum this year, bolstered by a series of pro-housing measures, including cuts in mortgage rates, lower down payment requirements, relaxed purchase restrictions, and improvements to land use, fiscal and tax policies.
The official highlighted signs of recovery in the market, citing year-on-year and month-on-month increases in new home transactions in terms of floor area recorded in October and November.
To sustain this recovery, the ministry also plans to optimize the housing supply by strictly controlling the expansion of new commercial housing while improving the quality of homes, the official noted.
In addition, greater efforts will be made to expand the supply of affordable housing, offering more support to new urban residents, young people and migrant workers to meet their housing needs.
China intends to intensify its support for urban village and dilapidated housing renovation projects next year, further expanding the scale of such projects.
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