On June 14th, Caijing News (Reporter Wang Haichun) in Datong, Shanxi, a package of real estate destocking policies has been introduced. However, the main focus of Datong's policy this time is not only limited to the residential sector, but more on the non-residential area.

Recently, Datong released the "Plan for Accelerating the Disposal of Non-Residential Commercial Housing Inventory", which includes 12 related measures such as reasonable determination of the commercial and residential ratio of real estate projects, strengthening the coordinated development of non-residential destocking and building economy, and reducing the user's cost of non-residential commercial housing.

"Now, many cities pay more attention to the destocking of residential real estate, but in fact, the destocking of non-residential markets such as commercial and office areas also needs to be studied and promoted. Compared with first-tier cities, Datong's urban level has a certain gap, but from the latest policies issued locally, there are many targeted policies facing the destocking of non-residential categories. Through a series of measures, it is expected to moderately ease the problem of large inventory pressure on local non-residential properties." Yan Yuejin, the research director of E-house Research Institute, said in an interview with reporters.

Among the many destocking measures in Datong, the most attention-grabbing are measures related to acquisition and reconstruction.

According to the plan, in order to revitalize the inventory of non-residential commercial housing, for non-residential commercial housing projects that have been completed and unsold, under the premise of satisfying structural safety and fire protection, government administrative organs and institutions, community public service institutions, self-regulatory organizations, state-owned platform companies, etc., can be used as high-level talents. Apartments, "maker spaces" or other public service facilities through acquisitions, long-term leases, etc.

In addition to destocking through acquisitions, Datong supports measures to transform non-residential inventory housing into affordable rental housing, which is also considered by the industry to have many highlights.

According to the latest policy, for vacant and underutilized non-residential inventory housing such as commercial office buildings, hotels, factories, warehouses, scientific research, and education, etc., that have been legally approved and completed, under the premise of meeting planning principles, unchanged ownership, meeting safety requirements, and respecting the wishes of all parties, with the consent of the city and county (district) governments, they can be transformed into affordable rental housing. During the period of using it as affordable rental housing, the land use nature will not be changed and the land price will not be paid.

At the same time, in terms of effectively activating the inventory of non-residential commercial housing land, Datong has also introduced supportive policies.

For non-residential commercial housing land that has been sold but not developed, it is allowed to be transformed in accordance with regulations for the development of new emerging industries projects supported by the state such as retirement, tourism, and sports. On the premise of meeting the carrying capacity of public service facilities and basic supporting facilities, it can be approved for planning modification according to the "commercial to residential" policy and the commercial-to-residential ratio can be appropriately reduced.

In addition, Datong will moderately control the increase of non-residential commercial housing land and adhere to the principle of "housing is determined by people, land is determined by housing, and supply is determined by demand". Combined with the national land use plan and the housing development plan, scientific planning and implementation of the annual construction land supply and housing development plan, and specify the scale, structure, and location of the annual non-residential commercial housing and land supply. For counties (districts) with too long a destocking cycle of non-residential commercial housing inventory, except for provincial and municipal key investment projects and logistics, gas station sites, etc., new non-residential commercial housing land will be suspended from listing and transfer except for provincial and municipal key investment projects and logistics, gas station sites, etc.

Analysts pointed out that Datong's package of destocking measures is based on the regulatory layer's policy of digesting the inventory, but the latest policies issued locally still have certain particularity.

In Yan Yuejin's view, the previous inventory digestion mentioned the relationship between "people, houses, land, and money", which often focused more on the residential sector, but Datong's policy ideas have been extended from the residential category to the non-residential field, and this direction has important significance and is worthy of recognition.

"Not only residential properties have destocking problems, some cities' commercial and office projects also face destocking problems. If various places can effectively solve the destocking problem of non-residential areas based on local conditions, combined with their own strength and supply and demand changes, it is very important for stabilizing the real estate market. From this perspective, the latest policies issued by Datong have a positive direction, open up new ideas and methods, and have certain inspirations and reference significance for other cities to implement destocking policies." Yan Yuejin said.