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new policy for chongqing's property market: cancel sales restrictions and identify first homes by district

2024-09-01

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beijing news (reporter duan wenping) on september 1, the chongqing municipal housing and urban-rural development commission issued the "notice on adjusting and optimizing real estate transaction policies" (hereinafter referred to as the "notice"), which involves canceling sales restrictions, optimizing housing unit recognition standards, supporting housing "old for new", accelerating the sales of existing commercial housing, and increasing the development of the housing rental market.

in terms of canceling sales restrictions, the "notice" clearly states that from september 1, 2024, all newly purchased commercial housing and second-hand housing in the central urban area of ​​chongqing (based on the online signing and filing time) can be listed for trading after obtaining the "real estate certificate".

this time, chongqing has also optimized the standard for identifying the number of housing units. when a resident family (including the borrower, spouse and minor children) applies for a commercial personal housing loan to purchase a commercial housing in chongqing, only the housing situation of the family members in the district or county (autonomous county, hereinafter referred to as the district or county) where the intended housing is located will be checked. if the family members do not have a house in the district or county where the intended housing is located, it will be identified as the first house. at the same time, if residents use their own existing housing in chongqing as rental housing and obtain a rental contract filing certificate, the housing that has been rented out when purchasing a house in chongqing may not be included in the calculation of the number of family housing units. support commercial banks to issue commercial personal housing loans according to the number of recognized housing units and increase profit sharing.

in terms of supporting the "old for new" housing program, for those who sold their owned homes in chongqing since september 1, 2023, and purchased new commercial housing in the central urban area from september 1 to december 31, 2024 (based on the online signing and filing time) and completed the payment of stamp duty, the district governments (management committees) in the central urban area will give a subsidy of no less than 0.5% of the total house price for each newly purchased home based on their own actual conditions.

in addition, chongqing has launched the work of purchasing existing commercial housing for use as affordable housing, adhered to the principle of "ordering according to demand", organized district and county governments and qualified state-owned enterprises to increase the purchase efforts, actively sought policy support for affordable housing refinancing, promoted the implementation of projects with mature conditions as soon as possible, and effectively carried out the allocation and distribution of affordable housing. district and county governments are encouraged to include the existing housing on state-owned land that is planned to be expropriated into the scope of acquisition, organize the acquisition in accordance with the principle of not higher than the expropriation assessment price and voluntariness, and support the relevant residents' demand for improved housing of "small for big" and "old for new". district and county governments are encouraged to organize the purchase of commercial housing for the exchange or resettlement of urban class d dangerous houses.

edited and proofread by liu jun