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Recently, in order to promote housing consumption, stimulate market vitality and accelerate inventory reduction, many places across the country have launched various housing subsidy policies, including deed tax subsidies, talent housing discounts, group purchase discounts, demolition and resettlement subsidies, etc. From municipal governments to district governments, even some real estate companies have joined the subsidy ranks. These measures together constitute a new situation of "various" subsidies in the real estate market.

Frequent "big moves"

Nanchang City, Jiangxi Province, recently issued policies and measures to promote the stable and healthy development of the real estate market, clarifying that eligible homebuyers can enjoy a subsidy of 100 yuan per square meter, and families with two or more children can also enjoy the same amount of subsidies. At the same time, Jiujiang City issued 1,000 home purchase coupons, with a discount amount of 10% of the total purchase price, half of which will be borne by the government and the real estate developer. Similar large-scale subsidies have also appeared in Jiaozhou City and Rizhao City, Shandong Province. Jiaozhou City has introduced group purchase discounts, housing subsidies, and housing ticket resettlement policies. Homebuyers can enjoy a 5%-10% discount on the basis of the lowest online signing price within half a year; Rizhao City provides a subsidy of 20% of the total purchase price for rural migrants to buy their first commercial housing in the city.

On the basis of the municipal government policies, the regional governments have also introduced targeted subsidy measures. For example, Hangzhou Xiaoshan District issued consumer vouchers for house purchases, and buyers can use 30,000 yuan of vouchers for each house purchase of commercial housing below 140 square meters. Changsha Wangcheng District gives different amounts of rewards to demolished people for purchasing commercial housing according to the online contract area.

Positive response from real estate companies

Some real estate companies have also actively participated in the ranks of housing subsidies, helping homebuyers through deed tax subsidies, preferential discounts, etc. For example, Changsha Chengfa Hengwei Real Estate launched a housing deed tax subsidy activity, subsidizing 100% of the deed tax for first-time homebuyers and 70% of the deed tax for second-time homebuyers.

Policy trend analysis

Industry experts pointed out that the current housing purchase subsidy has become one of the key policies for local destocking. From the perspective of policy trends, it is expected that the intensity of housing purchase subsidies for residents will be increased in the future, and the policy may shift from "subsidizing bricks" (i.e. directly subsidizing real estate developers) to "subsidizing people" (i.e. directly subsidizing home buyers). This will not only help reduce the burden on home buyers and encourage housing consumption, but also further stimulate the demand for the property market and accelerate the destocking.

In addition, experts also said that in the important direction of optimizing the demand side, in addition to continuing to relax restrictive policies in core cities, all regions should also strengthen the implementation and enforcement of residents' housing purchase subsidy policies to ensure that the policy effects can truly benefit the majority of home buyers.