The trend of the real estate market bottoming out and stabilizing is strengthening

Xinhua News Agency, Beijing, July 27 — A midyear review shows that, as localities continue to optimize real estate policies, China’s property market is showing signs of bottoming out and stabilizing. Many places have supported rigid demand and upgraded housing demand by adjusting measures such as purchase restrictions, credit policies, housing provident funds, and homebuying subsidies, gradually restoring market confidence. The report noted that policy optimization in firsttier cities has had a more pronounced effect. Shanghai, Beijing, Shenzhen, Guangzhou, and other places have successively eased or adjusted related homebuying and mortgage policies, boosting activity in secondhand home transactions. Data show that in the first half of the year, the share of secondhand homes in the nation’s total transactions of new and secondhand homes exceeded half for the first time, and the combined transaction volume of new and secondhand homes in multiple cities increased year on year. On the supply side, localities have continued to advance “inventory reduction” and “better supply.” By purchasing existing commercial housing and converting it into affordable rental housing, optimizing the pace of land supply, and promoting the implementation of “good housing” projects, the supplydemand relationship in the property market has further improved. Industry insiders believe that as the sector transforms from traditional development and sales to stock renewal, community services, and asset operations, housingrelated consumption and service areas will continue to expand.