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Since the beginning of this year, favorable policies for the real estate market have been introduced frequently, and the latest trend is that new homes are no longer "price-capped."

According to statistics from China Index Academy, this year, cities such as Shenyang, Lanzhou, Zhengzhou, and Ningde have clearly stopped implementing sales price guidance for newly built commercial housing, that is, canceled sales price limits. Cities such as Yangjiang, Zhuhai, and Wuhu have also optimized their price limit policies, such as shortening the time interval for adjusting the registered prices and canceling the price difference limit for each floor.

The price limit policy was first issued in 2010, aiming to curb the overheating of the real estate market. Under the policy background of "stabilizing land prices, housing prices and expectations", the "price limit" played an important role in stabilizing land prices and housing prices when the market was hot in the past.

However, since the second half of 2021, the real estate market environment has undergone tremendous changes. The unilateral rise in housing prices has become history. The guidance prices for new houses in many places have become "non-existent", price cuts by real estate companies have become the mainstream, and the "price limit" policy has also reached the point of adjustment.

Weakening of price controls

During the period of deep adjustment of the real estate market, local governments' control over housing prices is weakening.

Recently, Tianshui and Baiyin in Gansu Province successively issued notices to cancel the price filing of newly built commercial housing to promote the stable and healthy development of the real estate market. Tianshui also stated that "the sales price will be adjusted in a timely manner by the developer according to market sales conditions."

Previously, Lanzhou also stated that real estate companies no longer need to apply to the Municipal Development and Reform Commission for price registration when applying for pre-sale licenses for commercial housing. The transaction of newly built commercial housing is no longer subject to registered prices, and buyers and real estate companies can negotiate prices on their own.