Daily Times

Efforts will continue in 2025 to stabilize and prevent further declines in China’s real estate market, China Construction News reported, citing a work conference held by the housing regulator on Tuesday and Wednesday.

China will vigorously promote the reform of the commercial housing sales system, and expand the scope of urban village renovation beyond the addition of 1 million units, the report said.

China will strictly control the supply of commercial housing, while increasing the supply of affordable housing to help solve the living problems of a large number of new citizens, young people and migrant workers, it said.

Policymakers have stepped up efforts to revive the real estate by introducing new measures to encourage home demand after a government-led campaign to rein in highly leveraged developers triggered a crisis in 2021.

Since September, measures aimed at encouraging homebuying have included cutting mortgage rates and minimum down-payments, as well as tax incentives to lower the cost of housing transactions.