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Following Guangzhou, Shanghai's first housing voucher was issued in Jinshan, which is also the first housing voucher issued and used in Shanghai. According to incomplete statistics, more than 40 cities have launched the "housing voucher resettlement" policy this year, aiming to encourage and guide the compensated persons to purchase commercial housing on their own to achieve self-relocation. The policy is said to be conducive to accelerating resettlement efficiency while also helping to sell the existing commercial housing.

What is a “housing ticket”?

Generally speaking, "housing vouchers" refer to a supplement to the monetary compensation for the expropriation of existing residential houses during the process of demolition and resettlement. Housing vouchers are settlement certificates issued by the expropriator to the expropriated person for the purchase of houses after the expropriated person's housing resettlement compensation rights are quantified in monetary terms. In other words, housing voucher resettlement does not mean directly receiving resettlement funds, but using housing vouchers to buy houses and deduct the house price.

To put it more simply, "housing ticket" is the "voucher" that the people whose houses are expropriated use to purchase commercial housing after demolition.

As the first first-tier city to implement "housing ticket resettlement", on January 5 this year, the Land Development Center of Liwan District, Guangzhou City issued the city's first housing ticket at the Shiweitang demolition site, marking the implementation of Guangzhou's "housing ticket resettlement" policy.

According to the WeChat public account "iJinshan", the first housing ticket in Shanghai was recently issued in Jinshan. Mr. Li (pseudonym), a resident of Hengpu Village in Jinshanwei Town, received housing ticket No. 001. This is also the first housing ticket issued and used in Shanghai after the release of the "Implementation Measures for Housing Ticket Resettlement in Jinshan District (Trial)".

In June this year, the Housing Security and Housing Management Bureau of Jinshan District, Shanghai issued a notice on the Implementation Measures for Housing Voucher Resettlement in Jinshan District (Trial Implementation). The notice shows that housing voucher resettlement is a supplement to the monetary compensation method. It is a resettlement method based on the principle of voluntary participation by the compensated person, who chooses housing from the "property information database" (housing supermarket) of newly built commercial housing in our district and purchases commercial housing from real estate developers on his own. If the compensated person chooses the housing voucher resettlement method, he will be given a reward of 7% of the total amount of monetary compensation for residential housing in accordance with the compensation agreement as a policy reward for housing voucher resettlement.

"Using housing coupons to purchase commercial housing gives me more housing options, higher living quality, and more personalized housing selection," said Mr. Li mentioned above.

Chen Mei, deputy leader of the Jinshan District Housing Ticket Resettlement Pilot Project Team, said: "In order to better promote the housing ticket resettlement project pilot, our district has launched a matching 'housing supply supermarket', which includes high-quality commercial housing that are already on sale in our district or can be completed and delivered within six months.Off-plan, shortening the transition period for relocated people, helping them to achieve better and more diversified housing security, and helping them to move into their new homes as soon as possible."

More than 40 cities have introduced "housing ticket resettlement" policies this year

From a national perspective, according to incomplete statistics from the China Index Academy, more than 40 cities have introduced and implemented the "housing voucher resettlement" policy since this year alone. Among them, Guangzhou and Shanghai have both initiated pilot projects in the suburbs. Currently, a small number of housing vouchers have been issued and used. In the future, the housing voucher resettlement policy is expected to be further expanded and implemented.

Yan Yuejin, deputy director of the Shanghai E-House Real Estate Research Institute, believes that the promotion of the housing voucher policy has positive and important significance, including giving expropriated persons greater choices, accelerating resettlement efficiency, improving resettlement satisfaction, helping to release improvement-oriented demand, and reducing direct fiscal expenditure.

Industry insiders also believe that "housing voucher resettlement", as a special form of monetary resettlement, is more helpful in locking in the release of housing demand locally than direct monetary compensation. At the same time, projects that can use "housing vouchers" are subject to restrictions by local governments, which can have a certain positive impact on market sales overall.

Judging from the practices in various places, housing tickets are actually not a new product.

According to CCTV.com, some cities in my country have tried to issue housing vouchers to relocated households since 2005. In 2015, many cities followed suit under the wave of monetization of shantytown renovation. By 2018, when the shantytown renovation was waning, housing vouchers also "retired". In this way, my country has been exploring the housing voucher resettlement mechanism for nearly 20 years.

Yan Yuejin believes that based on the new situation and new conditions of the current real estate market, the housing voucher policy will also play a new role. Observing the housing voucher policies and promotion in key cities across the country, they are mainly carried out in suburban markets. Since 2023, in the housing transaction markets of major cities, the suburban market has been under greater pressure, and the urban area is more active, which has led to the phenomenon of market differentiation. The implementation of the housing voucher policy in the suburban market can objectively guide the release of housing demand, while promoting inventory reduction and boosting transaction activity, it has a positive effect on the balanced development of the market in all districts of the city.