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the housing "old for new" policy is being continuously optimized and expanded. according to the monitoring of china index academy, as of september 17, about 130 cities have carried out housing "old for new" related work, and the policy effects in some cities are emerging. at the same time, various regions are also innovating and optimizing housing "old for new" related policies and upgrading the housing "old for new" model.

experts interviewed generally believe that the housing "old for new" policy has connected the second-hand and new housing markets and played an important role in digesting the existing housing stock. with the optimization and implementation of relevant policies, its driving effect on the market may be further expanded.

recently, many places have expressed their intention to increase support for the housing "trade-in" policy. for example, chen haodong, deputy director of the jiangsu provincial department of housing and urban-rural development, said at a press conference on several policy measures to consolidate and enhance the positive trend of economic recovery and further promote high-quality development on september 10 that they will guide local governments to further expand the supply of new houses, guide real estate companies to make appropriate concessions, coordinate and make good use of support policies such as housing purchase subsidies and tax and fee reductions, and promote the continued effectiveness of the housing "trade-in" policy.

behind the policy increase, it reflects that the "old for new" housing policy plays a key role in promoting the smooth replacement chain and enhancing the activity of the real estate market.

nanjing launched two batches of housing "trade-in" in april and june this year. at the press conference of the 2024 nanjing "gathering benefits in jinling, double the happiness of home" golden autumn housing fair held on september 11, the relevant person in charge of nanjing anju group introduced that as of now, nearly 4,000 groups have visited the "trade-in" case sites and applied for the evaluation of more than 1,000 existing houses. in addition, as of the end of august, 12 "trade-in" owners of the yihe platinum jiangjing project in jiangbei new district have successfully received their houses.

liangxi district of wuxi city has attracted much attention for launching the "old for new" policy for housing in other places. according to the news released by liangxi urban development group, the first "old for new" policy for commercial housing in other places in china was signed and sold on august 30.

in the process of promoting the "old for new" housing policy, nanjing city and liangxi district of wuxi city have both adopted the state-owned enterprise "old for new" model, with nanjing anju group and liangxi chengfa group as the acquisition entities respectively.

in this regard, chen wenjing, director of market research at china index academy, said in an interview with the securities daily reporter that the effect of the housing "old for new" policy is showing. among them, the "old for new" model of state-owned enterprises represented by nanjing has a relatively good driving effect. if there is further financial support in the future, the progress may be significantly accelerated.

"the current policies to support the housing 'old for new' policy in various cities are mainly to simplify the process, reduce taxes and fees, and provide public welfare benefits." speaking of the specific measures currently taken by various places to support the housing 'old for new' policy, zhang hongwei, founder of jingjian consulting, told the securities daily reporter that the housing 'old for new' policy is essentially to promote transactions and accelerate the disposal of existing housing. simplifying the replacement process and reducing transaction costs can effectively support the housing 'old for new' policy to play its due role.

chen wenjing said that the current housing "old for new" policy is closely integrated with provident fund loan policies and housing purchase subsidies, such as giving subsidies to housing "old for new" owners when they purchase new homes and increasing the provident fund loan amount.

the "several measures of shanxi province to further promote the stable and healthy development of the real estate market" issued by the shanxi provincial department of housing and urban-rural development and other departments on september 5 proposed that for employees who participate in the "old for new" activities 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.

in addition to the above measures, some regions have also innovated the policies to support the "old for new" housing. the "zunyi city policies and measures to promote high-quality development of real estate" issued by the office of the people's government of zunyi on september 14 proposed to innovate support for the "old for new" housing purchase. financial institutions will provide financing and loan support for state-owned enterprises to purchase old houses used by individuals for "old for new" and transform them into affordable rental housing or allocated affordable housing. financial institutions can adopt flexible mortgage methods to provide mortgage loans for residents' old houses, which are targeted to support residents in purchasing new houses.

chen wenjing said that as far as the state-owned enterprises' "old for new" model is concerned, if more financial support is given in the future and further synergy is formed, it will be expected to further expand the driving effect of "old for new" housing on the market and help the real estate market stabilize faster.

source: securities daily