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A housing complex in construction in south China's Hainan Province, June 30, 2023. /CFP
Cities across China have pledged to adjust and improve their property sector policies last week following a key Politburo meeting.
The move is to better meet residents' demand for basic housing and improvement of housing conditions.
Over the course of a week, the Housing and Urban-Rural Development Commission in Beijing and Shenzhen stated that they would execute policies that can better meet residents' housing demands. Provincial governments of Jilin Province and Anhui Province have also expressed their commitment to implementing favorable housing measures, as reported by The Paper.
The Ministry of Housing and Urban-Rural Development last week emphasized the need to implement the deduction of down payment ratios for first-time home-buyers and ease home purchase restrictions.
In recent years, China has been implementing city-specific policies to promote the steady and healthy development of the real estate market. Following the direction given by the central government, analysts are anticipating further specifics of regional policy to be released soon.
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Disinformation report hotline: 010-85061466