Housing regulator: China will focus on stabilising the housing market by 2025

China Construction News, citing the work conference of the housing regulator held on Tuesday and Wednesday, reported that efforts will continue to be made in 2025 in order to stabilize and prevent further falls in China's property market.

The report stated that China would vigorously promote reform of the commercial property sales system and expand the scope for urban village renovation beyond adding 1 million units.

China said it would strictly control the commercial housing supply, while increasing affordable housing supply to help solve living problems for a large number new citizens, youth and migrant worker.

After a government-led effort to rein in developers with high leverage triggered a real estate crisis in 2021, policymakers have increased efforts to revitalize the market by introducing measures to encourage demand for homes.

Since September, the government has taken measures to encourage homebuying, including lowering mortgage rates, reducing minimum down payments, and offering tax incentives that lower the cost of transactions.

According to the conference, there has been a stabilization of the real estate market, as home sales in October and Novermber have grown by two-fold year-onyear and month-onmonth for consecutive months.

China's home

Prices are a little higher than usual.

Official data revealed that the rate of decline in November was the lowest in 17 months, despite government efforts to revitalize the sector.

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The Central Financial and Economic Affairs Commission called in December for immediate policy measures that would have a direct impact on stabilising real estate markets, and local governments to get greater autonomy to purchase housing stock.

(source: Reuters)