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july 16, 2024, a bird's-eye view of the yingze street in taiyuan, shanxi, which is undergoing renovation. visual china photo

according to shanxi news network on september 15, the shanxi provincial department of housing and urban-rural development and seven other departments issued a notice on the issuance of "several measures to further promote the stable and healthy development of the real estate market in shanxi province" (hereinafter referred to as "several measures").

the "several measures" include canceling taiyuan's commercial housing purchase restriction policy, canceling the transfer restriction period for various types of commercial housing, canceling the standards for ordinary and non-ordinary residential housing, vigorously supporting the improved housing needs of families with many children, implementing personal housing credit policies, increasing support for housing provident funds, supporting the implementation of housing "old for new" activities, and actively organizing real estate promotion activities. the measures will take effect on september 5, 2024 and will be valid for 3 years.

the "several measures" clearly stated that the purchase restriction policy of commercial housing in taiyuan city will be cancelled. there is no need to review the qualifications of buyers when purchasing commercial housing (including newly built commercial housing and second-hand housing).

the "several measures" proposes to cancel the transfer restriction period for commercial housing (including newly built commercial housing and second-hand housing) (except for those with restricted property transfer), and to allow the transfer from the date of obtaining the real estate certificate (house ownership certificate), so as to strongly support the rigid and improvement housing purchase needs of urban and rural residents. municipal governments can formulate policies based on their cities, cancel the standards for ordinary and non-ordinary residential housing, and better support the release of demand for improved housing.

the "several measures" clearly support the "old for new" housing activities. people who are willing to sell their own stock housing and buy new houses within the same city can enjoy the "old for new" service, give priority to new housing sources, and sell their own stock housing at the same time, so as to improve the replacement efficiency and cover the replacement risks. all municipal governments should build a three-party docking and cooperation platform for developers, brokerage agencies, and home-buying families, support developers and brokerage agencies to provide high-quality services, reasonably reduce costs, actively guide both parties to the transaction to jointly bear the brokerage service fees, and support home-buying families to "trade old for new". state-owned or state-controlled enterprises are encouraged to purchase second-hand housing for affordable rental housing or resettlement turnover housing. before december 31, 2025, taxpayers who sell their own housing and re-purchase housing in the market within one year after the sale of the current housing will be given a tax refund for the personal income tax paid for the sale of the current housing. for employees who participate in the "old for new" activity of existing housing, the maximum amount of housing provident fund loans for new housing purchases will be appropriately increased on the basis of the current policy.

the "several measures" clearly stated that the "housing voucher resettlement" model should be actively promoted. for housing expropriation on state-owned land and urban village reconstruction involving homestead and housing compensation resettlement, the expropriator can issue compensation to the expropriated person in the form of a housing voucher, and the expropriated person can purchase commercial housing in the "housing supermarket" built in a unified manner. the housing voucher is implemented on a real-name basis, and the housing voucher holder is the expropriated person; if the expropriated person chooses housing voucher resettlement, the municipal governments can give certain rewards; the expropriated person can use the housing voucher to purchase newly built commercial housing (including residential, commercial, office, parking space, etc.), allocated affordable housing, etc. for himself and his spouse, parents, children and other immediate family members.

the following is the full text of the policy:

several measures to further promote the stable and healthy development of the real estate market in shanxi province

in order to thoroughly implement the important decisions and arrangements of the cpc central committee, the state council, the provincial party committee and the provincial government on real estate work, adapt to the new changes in the current supply and demand relationship in the real estate market and the people's new expectations for high-quality housing, coordinate the relationship between housing stock and incremental housing, adjust and optimize real estate market policies, better meet the rigid and improved housing needs of urban and rural residents, and further promote the stable and healthy development of the real estate market, the following measures are formulated in light of the actual situation in our province.

1. cancel the purchase restriction policy of commercial housing in taiyuan. there is no need to review the qualifications of buyers when purchasing commercial housing (including newly built commercial housing and second-hand housing).

2. cancel the transfer restriction period for all types of commercial housing. cancel the transfer restriction period for commercial housing (including newly built commercial housing and second-hand housing) (except for those with restricted property transfer), and the housing can be transferred from the date of obtaining the real estate certificate (housing ownership certificate), vigorously supporting the rigid and improvement housing purchase needs of urban and rural residents.

3. cancel the standards for ordinary and non-ordinary residences. municipal governments can adopt policies based on their cities and cancel the standards for ordinary and non-ordinary residences to better support the release of demand for improved housing.

fourth, vigorously support the housing improvement needs of families with many children. for families with two or more children who purchase newly built commercial housing and apply for commercial personal housing loans or provident fund loans, the relevant government departments may reduce the number of family housing units by one when issuing the housing unit certification, and encourage and support banking financial institutions to implement the loan down payment ratio and interest rate policy for the first and second housing units respectively for the second and third housing units purchased by them.

5. implement the personal housing credit policy. for households that take out loans to purchase commercial housing, the minimum down payment ratio for commercial personal housing loans for the first house shall be no less than 15%, and the minimum down payment ratio for commercial personal housing loans for the second house shall be no less than 25%. fully implement the people's bank of china's regulations on canceling the lower limit of the interest rate policy for commercial personal housing loans for the first and second houses, guide banking financial institutions to reasonably determine the specific interest rate level of each loan based on their own operating conditions, customer risk conditions and other factors, and increase support for housing consumption.

6. increase support for housing provident funds. for employees who use provident fund loans to purchase commercial housing for self-use, the minimum down payment ratio for the first and second housing is 20%, and for those who purchase affordable housing, the minimum down payment ratio is 15%. reduce the interest rate of individual housing provident fund loans by 0.25 percentage points. from may 18, 2024, the interest rates for the first individual housing provident fund loans of less than 5 years (including 5 years) and more than 5 years will be adjusted to 2.35% and 2.85% respectively, and the interest rates for the second individual housing provident fund loans of less than 5 years (including 5 years) and more than 5 years will be adjusted to no less than 2.775% and 3.325% respectively. appropriately increase the amount of provident fund loans. for high-level talents, families with two or more children, and families of active military personnel, the maximum amount of housing provident fund loans will be appropriately increased on the basis of the current policy. in cities where the housing provident fund individual loan rate is lower than 80%, employees who make housing provident fund deposits can apply for housing provident fund loans to purchase their first home, and the restriction on the amount of housing provident fund loans being linked to the time of housing provident fund deposits and the account balance will be cancelled. cities can further optimize the "loan recognition" standard for the number of housing provident fund loan units based on the balance of funds. the scope of housing provident fund withdrawal for house purchases will be expanded, and employees who make housing provident fund deposits can apply to withdraw their parents' or children's housing provident funds at the same time when purchasing a house.

7. support the implementation of the "old for new" housing campaign. people who are willing to sell their own stock housing and buy new houses within the same city can enjoy the "old for new" service, give priority to new housing sources, and sell their own stock housing at the same time, so as to improve the replacement efficiency and cover the replacement risks. all municipal governments should build a three-party docking and cooperation platform for developers, brokerage agencies, and home-buying families, support developers and brokerage agencies to provide high-quality services, reasonably reduce costs, actively guide both parties to the transaction to jointly bear the brokerage service fees, and support home-buying families to "trade old for new". state-owned or state-controlled enterprises are encouraged to purchase second-hand housing for affordable rental housing or resettlement turnover housing. before december 31, 2025, taxpayers who sell their own housing and re-purchase housing in the market within one year after the sale of the current housing will be given a tax refund for the personal income tax paid for the sale of the current housing. for employees who participate in the "old for new" activity of stock housing, the maximum amount of housing provident fund loans for new housing purchases will be appropriately increased on the basis of the current policy.

8. actively organize real estate promotion activities. all municipal governments should give full play to the role of real estate industry associations and chambers of commerce as bridges and ties, actively organize real estate trade fairs and real estate expositions, at least twice a year, support and guide real estate developers to carry out various forms of commercial housing promotion activities based on their own conditions, and promote the linkage between housing sales and home decoration, home appliances, furniture, automobiles and other consumption through preferential concession measures such as group purchase discounts, free furniture and home appliances, free parking spaces or parking space discounts, reduction of property fees, and reduction of real estate certificate agency fees, and vigorously support urban and rural residents to improve their living conditions. actively explore the transfer of underground space and related supporting policies, accelerate the real estate registration of underground parking spaces (garages) for qualified commercial housing projects, activate the asset value of underground parking spaces, and promote commercial housing sales.

9. promote the coordinated high-quality development of non-residential inventory reduction and building economy. all municipal governments should thoroughly implement the "opinions on accelerating the reduction of non-residential commodity housing inventory" and the "implementation plan for the high-quality development of building economy in shanxi province". on the basis of finding out the bottom line of non-residential building inventory in the municipal area (main urban area), accelerate the establishment of a task list for inventory reduction of existing buildings, formulate and implement special action plans, effectively combine non-residential inventory reduction with high-quality development of building economy, take multiple measures to activate non-residential building resources, and strive to create a new highland for building economy development.

10. actively promote the "housing ticket resettlement" model. for housing expropriation on state-owned land and urban village reconstruction involving homestead and housing compensation resettlement, the expropriator can issue compensation to the expropriated person in the form of housing tickets, and the expropriated person can purchase commercial housing in the "housing supermarket" built in a unified manner. the housing ticket implements the real-name system, and the housing ticket holder is the expropriated person; if the expropriated person chooses housing ticket resettlement, the municipal government can give certain rewards; the expropriated person can use the housing ticket to purchase new commercial housing (including residential, commercial, office, parking space, etc.), allocated affordable housing, etc. for himself and his spouse, parents, children and other immediate relatives; for the part of the housing ticket face value that is insufficient to pay the house price, the housing ticket user who meets the conditions can apply for commercial loans and housing provident fund loans. if the housing ticket is used to purchase a house, the qualified person can enjoy reductions and exemptions according to the relevant provisions of the deed tax policy. if the expropriated person and his family meet the requirements of owning a local house, the housing ticket is allowed to be transferred once; if the housing ticket is transferred, the expropriator shall record the transferee information in the housing ticket. the specific implementation measures shall be studied and formulated by the municipal and county governments.

11. solidly promote the work of guaranteeing the delivery of houses. all municipal governments should thoroughly implement the spirit of the state council's work conference on guaranteeing the delivery of houses, strengthen overall coordination, consolidate the responsibilities of all parties, resolutely win the battle of guaranteeing the delivery of houses, and effectively safeguard the legitimate rights and interests of the people who buy houses.

12. give full play to the role of the urban real estate financing coordination mechanism. all municipal governments should better play the role of the urban real estate financing coordination mechanism, promote real estate projects that meet the requirements to enter the "white list", obtain financing support, ensure the normal construction and delivery of the projects, and effectively safeguard the legitimate rights and interests of the people who buy houses.

13. reasonably control the supply of new commercial residential land. all municipal governments should adhere to the principle of determining housing by population and land by housing, coordinate the housing supply system of "market + guarantee", timely optimize the scale, layout and structure of commercial office land and residential land according to market demand, and improve the supply adjustment mechanism of residential land corresponding to the commercial housing sales cycle and the stock of residential land. for commercial housing sales cycle exceeding 36 months, the transfer of new commercial residential land should be suspended, and great efforts should be made to activate the stock until the commercial housing sales cycle drops to less than 36 months; cities with commercial housing sales cycle between 18 months (not included) and 36 months should follow the principle of "how much is activated, how much is supplied", and dynamically determine the upper limit of the area of ​​commercial residential land newly transferred according to the area of ​​commercial residential land (including completion and recovery) activated within the year. all newly transferred land shall be transferred on a "clean land" basis. before the transfer, the government shall complete the land acquisition and storage, compensation and resettlement, and meet the basic conditions such as water supply, electricity supply, access road, and land leveling; real estate and other commercial land shall be included in the scope of online transactions.

14. increase the supply of affordable housing. municipal and county governments with a large number of inventory of commercial housing and a long destocking cycle should conscientiously implement the national policy requirements of "further expanding the scope of affordable housing policies to third- and fourth-tier cities and county towns, and also including township teachers, doctors, police officers and other public officials in the county protection scope", give full play to the effectiveness of the affordable housing refinancing policy, and on the basis of understanding the demand for affordable housing and the supply gap, "order according to demand" organize local state-owned enterprises to appropriately purchase a part of vacant commercial housing and use it as affordable housing for distribution or leasing, so as to meet the rigid housing needs of the working class.

15. vigorously support the development of high-quality housing. all municipal governments should combine the new changes in the supply and demand relationship of the real estate market and the new expectations of the people for high-quality housing, increase the supply of land for improved housing, improve the surrounding supporting infrastructure and public service facilities, vigorously develop high-quality housing projects, and in accordance with the relevant provisions of the state and our province on the construction of high-quality housing, include the spatial governance indicators of residential areas (building height, density, spacing, volume ratio, greening rate, etc.) and the construction requirements of supporting service facilities into the land transfer conditions and planning scheme approval content, strengthen the review of engineering design plans, increase the allocation of resources such as education and medical care, support and guide strong real estate development companies to build and supply a batch of green, low-carbon, intelligent, safe high-quality housing and high-quality communities, improve the quality of living, and meet the diversified improved housing needs of urban and rural residents.

16. maintain the legitimate rights and interests of all parties in real estate transactions. for new commercial housing projects that have been mortgaged by real estate developers (mortgage of projects under construction), they can apply for "mortgage transfer" of new commercial housing in accordance with the business procedures stipulated in the "notice on carrying out "mortgage transfer" of new commercial housing" (jin zi ran zi fa [2023] no. 37) to protect the legitimate rights and interests of all parties in real estate transactions and the security of assets and funds.

17. promote the transformation of real estate development and sales models in an orderly manner. all municipal governments should actively explore new models of real estate development and sales, orderly promote the reform of pre-sale of commercial housing, and vigorously promote the pilot of ready-to-move-in sales. at the same time, all relevant departments should strengthen coordination and linkage, optimize business handling, and gradually promote the realization of "delivery of the house and the certificate" (the buyer receives the real estate certificate at the same time as the house key).

the municipal governments are the responsible entities for the stable and healthy development of the real estate market in their respective administrative regions. they should give full play to their autonomy in regulation and control, study and introduce relevant policies and measures to promote the stable and healthy development of the real estate market in their respective regions according to the actual situation of the real estate market, optimize and implement various real estate regulation policies according to the city, strengthen the two-way regulation of supply and demand, increase the intensity of policy interpretation and publicity, effectively stabilize market expectations and consumer confidence, and promote the stable and healthy development of the real estate market. the provincial department of housing and urban-rural development, together with the provincial development and reform commission, the provincial department of natural resources, the provincial approval service management bureau, the shanxi branch of the people's bank of china, the shanxi financial regulatory bureau, the provincial taxation bureau and other relevant departments, jointly guide the implementation of relevant policies and measures.

this measure will be implemented from september 5, 2024, and will be valid for 3 years. upon expiration, it will be decided whether to continue or adjust the implementation according to the actual situation. if the relevant national and provincial departments issue new regulations, they will be implemented in accordance with the new regulations.