China is gearing up to revitalize its real estate market by 2025, aiming to stabilize and prevent further decline in property values. 🏠✨ According to a recent work conference held by the Ministry of Housing and Urban-Rural Development, big moves are on the horizon to support housing demand and breathe new life into the sector.
The plan? Vigorously backing those looking to buy homes and maximizing the role of the housing provident fund—a kind of savings plan that helps workers purchase property. 📈💪 The government is also set to reform the commercial housing system, ramp up the quality of residential buildings, and expand urban village reconstruction projects. 🏗️🌆
Experts like Zhang Renyuan, director of corporate ratings at S&P Global (China) Ratings, are optimistic. He predicts that the decline in commercial housing sales in China will slow down in 2025. Zhang highlights the urban village reconstruction program as a key player in stabilizing the market. 🏡🔑
But that's not all! After rolling out the monetized resettlement policy, resettlement demand is expected to morph into commercial housing contracts within the next two years. This shift could significantly boost the real estate market, especially in China's major cities. 🚀🌃
For young professionals, students, and global investors keeping an eye on Asia's dynamic markets, this is a space to watch! 👀 Whether you're dreaming of a skyline apartment or tracking economic trends, China's real estate developments could have ripple effects worldwide. 🌐
Reference(s):
China housing regulator: stabilize the real estate market in 2025
cgtn.com
