China promises ongoing initiatives to maintain stability in the housing market in 2025
China's Ministry of Housing and Urban-Rural Development has committed to ongoing initiatives aimed at stabilizing the real estate market and reversing its decline in 2025.
TroibNews 
China's Ministry of Housing and Urban-Rural Development has committed to ongoing efforts aimed at stabilizing the real estate market and reversing its decline by 2025.
The country will prioritize unlocking housing demand through a comprehensive implementation of various policies tailored to assist individuals in purchasing their first homes or enhancing their living conditions. This was stated by a ministry official during a two-day national conference on housing and urban-rural development that concluded on Wednesday.
This year, China's property market has experienced positive momentum, supported by a range of pro-housing measures such as reductions in mortgage rates, decreased down payment requirements, eased purchase restrictions, improvements to land use, and revised fiscal and tax policies.
The official pointed to encouraging signs of recovery in the housing sector, highlighting year-on-year and month-on-month increases in new home transactions in terms of floor area for October and November.
Additionally, the ministry plans to optimize housing supply by carefully regulating the growth of new commercial housing while enhancing the quality of homes to maintain this recovery trend.
Efforts will be intensified to expand the availability of affordable housing, providing greater support to new urban residents, young individuals, and migrant workers to address their housing needs.
According to the official, China aims to enhance its backing for renovation projects in urban villages and dilapidated housing in the coming year, further broadening the scope of such initiatives.
In pursuit of establishing a new development model for the real estate market, China will also concentrate on boosting the supply of improved housing, particularly high-quality homes.
In parallel, reforms are underway regarding the commercial housing sales system, transitioning from the conventional pre-sale approach to the sale of completed new homes, as stated by the official.
James del Carmen for TROIB News
The country will prioritize unlocking housing demand through a comprehensive implementation of various policies tailored to assist individuals in purchasing their first homes or enhancing their living conditions. This was stated by a ministry official during a two-day national conference on housing and urban-rural development that concluded on Wednesday.
This year, China's property market has experienced positive momentum, supported by a range of pro-housing measures such as reductions in mortgage rates, decreased down payment requirements, eased purchase restrictions, improvements to land use, and revised fiscal and tax policies.
The official pointed to encouraging signs of recovery in the housing sector, highlighting year-on-year and month-on-month increases in new home transactions in terms of floor area for October and November.
Additionally, the ministry plans to optimize housing supply by carefully regulating the growth of new commercial housing while enhancing the quality of homes to maintain this recovery trend.
Efforts will be intensified to expand the availability of affordable housing, providing greater support to new urban residents, young individuals, and migrant workers to address their housing needs.
According to the official, China aims to enhance its backing for renovation projects in urban villages and dilapidated housing in the coming year, further broadening the scope of such initiatives.
In pursuit of establishing a new development model for the real estate market, China will also concentrate on boosting the supply of improved housing, particularly high-quality homes.
In parallel, reforms are underway regarding the commercial housing sales system, transitioning from the conventional pre-sale approach to the sale of completed new homes, as stated by the official.
James del Carmen for TROIB News
