China’s four top-tier cities to announce detailed real estate policy easing measures from mid-Aug to early Sept – state media

 

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Chinese authorities are expected to introduce detailed real estate policy easing measures later this month after the top leadership called for efforts to support the housing market, according to state-run news media Securities Times.

Since July, China’s Politburo, the Ministry of Housing and Urban-Rural Development and the municipal governments of the four tier-one cities have vowed to optimize real estate policies.

The four cities’ plans for real estate policy easing have been submitted to the central government and the measures will be announced gradually from mid-August to early September, according to the report.

The four tier-one cities, namely Beijing, Shanghai, Guangzhou, and Shenzhen, will likely start policy easing from suburbs and the effects of the measures will be reviewed by the housing ministry before expansion of the relaxation, with an aim to achieve home price and transaction stabilization and rebound of no more than 5% year over year, the report said.

Earlier, it’s reported that high-ranking and key officials of the four top-tier cities will convene a meeting this month, in which they will have discussions about adjusting and optimizing real estate-related policy measures, according to Chinese newspaper The Economic Observer, citing people familiar with the matter.

The Politburo of the CPC Central Committee said at a key policy meeting last month that the supply and demand situation in China’s real estate market has changed fundamentally and China should optimize the real estate policy in accordance with the change. 

Chinese cities’ governments appeared to be well-prepared for policy optimization, only awaiting a signal, more concrete guidance and clearly defined parameters for the optimization, the report said.