CCTV News: On March 31, Nanjing introduced seven policy measures including the complete lifting of sales restrictions to stabilize the real estate market. In December 2024 and January and February 2025, Nanjing's new commercial housing price index increased by 0.6%, 0.7% and 0.5% month-on-month respectively, achieving national growth for three consecutive months, and the momentum of stabilization continued to increase.
The "Seven House Regulations" issued by Nanjing this time have unprecedented efforts. It mainly includes: completely abolishing restrictions on the transfer of commercial housing; increasing support for the rigid housing purchase policy for young people; further meeting residents' replacement and improvement needs; accelerating the meeting of the resettlement needs of expropriated people; further increasing housing provident fund support; further revitalizing the existing idle assets of enterprises; and striving to improve the urban living environment. At the same time, through government subsidies, corporate concessions, and brokerage agencies, the threshold for buying a house has been comprehensively lowered to meet the urgent housing needs and improvement needs. Experts said that this move not only increases the circulation of second-hand houses and drives consumption, but also helps stabilize housing prices.
Professionals said that this year's "old trade-in" subsidy for new home purchases. It is mainly divided into two parts. The first government will provide a subsidy of 1% of the new housing contract amount, and the total amount of the first batch of government subsidies is 100 million yuan, which shall be subject to the completion of online registration filing time. First-purchase, first-served. The second development company will provide a subsidy of no less than 3%-5% for the down payment of new houses. Suppose that a customer purchases a new house with a total contract price of 5 million yuan and pays a down payment of 2 million yuan. If the subsidy given by the developer is calculated at 5%, the buyer can enjoy 100,000 yuan of the developer's subsidy, plus 50,000 yuan of the government's subsidy, a total of about 150,000 yuan.
It is understood that this time, Nanjing has also expanded the scope of withdrawing housing provident fund to pay down payment for the home purchase, from the home buyer himself and the spouse of the home buyer to the parents and children of the home buyer, supporting home buyer to reduce the down payment pressure for home purchase through family assistance, and to redeem the "Dream of Safe" and "Dream of Livable Life" as soon as possible. The implementation period of the rules is extended to December 31, 2026. In the next step, Nanjing will further expand the scope of monthly direct rent payment for housing provident fund to better meet the rental housing needs of new citizens, young people and other groups.
Cancel the sales restriction policy, and the market listing volume has increased significantly.
Among the new "Seven House Regulations" real estate market policy released by Nanjing, the most concerned one is to fully lift the sales restriction, that is, houses can be listed and traded after obtaining the real estate registration certificate, and there is no longer the previous time limit. After the new policy was introduced, many homeowners have put their houses on the shelves.
The Nanjing residential sales restriction policy originated in 2017. At that time, in order to cope with the hot market conditions, it was stipulated that new or second-hand houses must obtain a real estate certificate before they can be listed for trading after three years. In 2022, relevant departments relaxed the sales restriction policy, adjusting the "acquisition of real estate certificates for 3 years" to "acquisition of 3 years from the date of contract filing", shortening the time for listing and trading. The new policy is to cancel the sales restrictions across Nanjing and will be officially implemented on March 31. The reporter saw at a real estate agency in Nanjing that a large number of properties have been put on the shelves in the system in the past two days. Industry insiders believe that in the long run, the cancellation of sales restrictions has increased the liquidity and activity of the market and helped stabilize housing price expectations.
