The proposed reform is part of a “new model” of real estate development being formulated by the central government, though details are still being finalised.
The move aims to limit new housing supply and prevent further price declines, especially in smaller cities where the downturn has been more severe.
Around 90% of homes were pre-sold in 2021, falling to 74% in 2023, but developers remain reliant on advance payments for cash flow.
The government has pledged to accelerate supportive financing mechanisms for this new model, though details remain sparse.
Over 30 cities have already piloted finished-home sales, and the central government signaled it will promote this nationwide in 2025.
The info was out Thursday ICYMI.
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