Guangzhou, Tianjin and other places have introduced new real estate policies to optimize housing supply

Guangzhou, Tianjin, and other places have recently successively introduced new policies for the real estate market, focusing on optimizing housing supply, supporting improved housing demand, and reducing homebuying costs. Guangzhou issued implementation guidelines to increase the housing provident fund loan limit, with a maximum of 1 million yuan for a single borrower and 2 million yuan for two or more borrowers; some eligible families with children may see further increases. At the same time, it has relaxed the conditions for converting commercial loans to provident fund loans and allows combined loans to be arranged, in order to reduce residents' homebuying pressure. Guangzhou has also introduced subsidies for "selling the old to buy the new," optimized the scope of housing voucher usage, and encouraged stateowned enterprises to acquire secondhand homes for use as affordable housing and talent housing. The local policy also proposes adhering to a land supply approach of "supply based on demand," piloting the sale of completed homes, and promoting the renovation of urban villages and old residential communities, so as to accelerate inventory reduction in the market and improve housing quality. Tianjin has issued a notice clarifying that taxpayers who sell their selfowned homes in the next two years and repurchase a home in the city within one year may enjoy a personal income tax refund benefit for taxes already paid, in support of housing consumption and improved replacement demand.