China has reaffirmed its commitment to stabilizing its real estate market in 2025, as part of ongoing efforts to reverse the current downturn and stimulate economic growth. The Ministry of Housing and Urban-Rural Development announced plans to implement a series of policies aimed at unlocking housing demand and supporting people’s needs for purchasing their first homes or improving their living conditions.
During a two-day national housing and urban-rural development work conference that concluded on Wednesday, a ministry official emphasized the government’s focus on reversing the decline in the property market. The official highlighted positive signs of recovery, noting year-on-year and month-on-month increases in new home transactions, measured by floor area, in October and November.
To sustain this momentum, China will fully implement a mix of supportive measures, including reductions in mortgage rates, lower down payment requirements, relaxed purchase restrictions, land-use improvements, and favorable fiscal and tax policies. These initiatives are designed to encourage both first-time homebuyers and those looking to upgrade their housing.
The ministry also plans to optimize housing supply by strictly controlling the expansion of new commercial housing while enhancing the quality of homes. Greater efforts will be made to increase the availability of affordable housing, providing more support to new urban residents, young people, and migrant workers to meet their housing needs.
In addition, China intends to intensify its support for urban village and dilapidated housing renovation projects next year, further expanding the scale of such initiatives. These projects are expected to improve living conditions and contribute to urban development.
As part of establishing a new development model for the real estate market, China will focus on increasing the supply of improved housing, particularly high-quality homes. Reforms are also being pursued for the commercial housing sales system, shifting from the traditional pre-sale practice to the sale of completed new homes, enhancing buyer confidence and market stability.
These concerted efforts reflect China’s determination to foster a stable and healthy real estate market, which is vital for the nation’s economic growth and social well-being. By addressing both supply and demand factors, the government aims to create a sustainable housing environment that meets the needs of its diverse population.
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China vows continued efforts to stabilize housing market in 2025
cgtn.com
