1. Central Economic Work Conference: Continued efforts to stabilize the downturn in the Real Estate market.

According to CCTV News, the Central Economic Work Conference was held from December 11 to 12 in Peking. The conference proposed to effectively prevent and resolve risks in key areas, firmly maintain the bottom line of preventing systemic risks, continually push to stabilize the downturn in the Real Estate market, actively implement urban village and old housing renovations, and promote the establishment of a new model for Real Estate development while prudently handling risks of local small and medium Financial Institutions. (The Paper)

2. "100% usable area", from January 1 next year, the sale of Commodities in Hunan Hengyang will be priced based on the internal construction area.

From January 1, 2025, the sale of Commodities in Hengyang City, Hunan Province will be priced based on the internal construction area. According to the notice jointly issued by Hengyang Natural Resources and Planning Bureau, Hengyang Housing and Urban-Rural Development Bureau, and Hengyang Development and Reform Commission, the internal construction area (exclusive construction area) consists of three parts: the usable area of the internal premises, the area of the internal walls, and the area of the internal balcony. Real Estate Development companies must agree with buyers to calculate the price of Commodities based on the internal construction area (exclusive construction area) when signing the online sales contract for Commodities, and any disputes regarding area must specify that the internal construction area and the price per internal construction area will be used as the basis for resolving area disputes. The rights and obligations of property right holders regarding shared areas outside of the exclusive parts of a building will not be affected by the change in the pricing method for the sale of Commodities. (Hengyang Evening News)

3. New regulations in Hangzhou effective on the 13th: Adjustment of the floor area ratio for Residence projects, parking spaces not counted in the ratio, substantial increase in usable area.

The official website of the Hangzhou Planning and Natural Resources Bureau has published a notice regarding the optimization of construction project floor area ratio and related Indicators calculation rules. This notice will come into effect on December 13, 2024. After implementation, the sold projects, projects that have obtained assignment decision documents, and newly approved renovation and expansion projects will be carried out according to the requirements of this notice. Any previous policy that is inconsistent with this notice shall be subject to this notice. This means that starting tomorrow, all newly sold residential land in Hangzhou can enjoy the new regulations on area recognition, such as enclosed balconies only counting as half the area, and open wind and rain corridors not being counted. The biggest surprise is the first item of the new regulation, which encourages diverse parking forms, with parking spaces used to meet the minimum parking allocation standards not being counted, such as independent parking buildings, parking spaces under the ground level platform, and multi-level parking spaces inside buildings. Considering cost, some developers will soon cancel underground parking spaces and switch to ground-level parking buildings, which will bring significant changes to the design of traditional residential communities in Hangzhou. As a result, the usable area ratio of new houses in Hangzhou will increase, allowing developers more space to create quality community facilities and significantly enhance the salable value.

4. Multiple regions have introduced policies to stimulate housing consumption, including purchase subsidies and optimization of housing provident funds to boost the Real Estate market.

Recently, multiple regions have adopted measures such as issuing home purchase subsidies and optimizing housing provident fund policies to vigorously support housing consumption and release demand for home purchases. For instance, recently the Guangxi Zhuang Autonomous Region government issued the "Measures to Promote the Stable and Healthy Development of the Real Estate Market in Guangxi", which mentioned, "Optimizing housing provident fund policies" and "Fiscal subsidies to support reasonable home purchasing needs". Recent related initiatives have also been launched in Shanxi Datong, Hubei Xiangyang, Hubei Xianning, and other places to support residents' rigid and improvement-based housing needs and boost the vitality of the Real Estate market. Zhang Bo, director of the 58 Anjuke Research Institute, stated in an interview that the role of promoting housing consumption in stabilizing the Real Estate market is expected to continuously strengthen, and more policies will be introduced in the future to support the stability of the Real Estate market. (Securities Daily)

5. "A 0.3 million subsidy for buying property in Shanghai", "A down payment of 0.02 million to buy a 1.8 million fine decoration existing house"? Real estate agents say it's a gimmick.

Recently, several property advertisements have appeared on short video platforms, with agents claiming that buying a house in Shanghai can receive a "home purchase subsidy" ranging from 0.2 million yuan to 0.3 million yuan. One agent claimed: "The total price in Shanghai Songjiang New Town is 0.76 million with a subsidy of 0.25 million." "After receiving the subsidy, a down payment of 0.05 million yuan is sufficient to purchase a 78 square meter house." Another agent claimed: "It can be done with a minimum down payment of only 0.02 million yuan to buy a fine-decoration existing house priced at 1.8 million yuan." Journalists consulted multiple agents and learned that the so-called "home purchase subsidy" mentioned in short videos is not a government subsidy, but rather a gimmick. When house viewers inquire about the subsidy on-site, different agents have different stories. Typically, there are three strategies - first, raising the price before lowering it. Second, the so-called "subsidy" is essentially the developer lending money to the buyer to pay the down payment, and the buyer still has to pay interest. Third, the rebates given by agents to buyers are packaged as "subsidies." (Shanghai Rumor Refuting Platform)

6. Banks in the Shanghai area have lowered mortgage loan rates to the same level, rushing to agents to "sign contracts" in the middle of the night.

Data shows that the volume of second-hand housing transactions in Shanghai reached 0.0205 million units in October, and this figure rose to 0.02705 million units in November, breaking the 0.027 million units threshold for the first time since March 2021, reaching the highest monthly transaction volume in nearly 44 months. "Now, as long as there are contracts, we all run over at night to sign them," said a person from a municipal commercial bank in Shanghai. What he referred to as "signing contracts" means that bank staff quickly rush to real estate agency offices to expedite housing mortgage loan processing for buyers. This commercial bank person candidly told reporters: "This has also driven many banks in Shanghai to intensify their efforts in mortgage loan businesses." After various inquiries, it was found that to obtain more mortgage loan business, banks in the Shanghai area have basically reduced mortgage loan rates to the same level. "Currently, the mortgage loan rate quotes for our first homes, second-hand homes in the 'outer ring plus Lingang area,' and second-hand homes within the outer ring are 3.15%, 3.35%, and 3.55%, respectively," this person from the commercial bank reported. (Everyday Business)

7. The first residential land transaction in Guangzhou Conghua in 24 years has been successfully concluded, with a transaction floor price of 4050 yuan/㎡.

On December 12, the first residential land transaction in Conghua District, Guangzhou, in 24 years was successfully completed. The site is located in the Jiangpu Street, Jiang Village FA0904019 plot in Conghua District, with a construction land area of 20,000㎡, a planned building area of 24,000㎡, a plot ratio of 1.2, a starting total price of 97.2 million yuan, and a starting floor price of 4050 yuan/㎡. The land was successfully acquired by Guangzhou KunNing Investment and Development Co., Ltd. (Conghua City Investment) at the base price, with a total transaction price of 97.2 million yuan and a transaction floor price of 4050 yuan/㎡.

8. Beijing successfully transferred its first unregulated land parcel since imposing price limits, with a transfer amount of 11.054 billion yuan.

The land development project in the Wanqiansi Village shantytown renovation area of Fengtai District, Beijing, with the plot FT00-0613-0024 designated for R2 type residential use, was successfully transferred at the base price for a total of 11.054 billion yuan. This marks the first unregulated land transfer in Beijing since the price limit policy was enacted in 2021. It is worth noting that this plot is also the third land parcel totaling over 10 billion yuan following the old renovations in Chaoyang Jiuxianqiao + Sunhe Qianweigou Group + Beijing Centergate Technologies Chaoyang Park North Area 0017 plot, and Jiuxianqiao + Shibalidian + Xiaohongmen group plots. (China Securities Golden Bull)

9. In Hubei Xiangyang: The loan term for provident fund loans has been relaxed to 10 years after retirement, with the loan limit increased to 0.8 million yuan.

Recently, the Housing and Urban Renewal Bureau of Xiangyang City in Hubei Province and other seven departments jointly issued "Several Measures to Continuously Promote the Stable and Healthy Development of the Real Estate Market in the Central Urban Area," to promote the stable and healthy development of the real estate market in our city. These measures will be implemented starting December 10, 2024. The notice stipulates an increase in the support for the housing provident fund, with the maximum loan limit raised to 0.8 million yuan; for new citizens, young people, teachers, medical staff, families with multiple children, and high-level talents purchasing newly built commodities housing and "trading old for new," the maximum loan limit for the housing provident fund can be increased by 20% on top of the highest limit. For purchasing high-quality residences or prefabricated residences, an additional increase of 10% can be made based on the aforementioned. Employees who have continuously contributed the full amount for 5 years can extend the loan term to 10 years after retirement, with the maximum loan term not exceeding 30 years. Flexibly employed individuals who have contributed the full amount to the housing provident fund for 6 months or more can apply for housing provident fund loans.

10. Northeast folks come to Guangxi Nanning to "buy a house and get a work position"? Nanning Housing and Urban-Rural Development Bureau: There is no such promotion.

Some netizens reported that Guangxi Nanning launched a policy of "buying a house and getting a work position." A promotional image showed that this was targeted at Northeast folks who are looking to buy property in Nanning, and agreements had been reached with BYD and the Nanning Rail Transit Group, offering suitable job placements for those who buy houses in Nanning. That same day, reporters interviewed the Housing and Urban-Rural Development Bureau of Nanning regarding this news, and a staff member from the Real Estate Market Regulation Department stated that currently, relevant departments are conducting promotional work in Harbin under the theme "Embrace the Cold Friends, Exchange in Winter," encouraging everyone to purchase property in Nanning, but some of the promotional content circulating online is misleading and may have been created by companies from their own perspective, "The Housing and Urban-Rural Development Bureau has not conducted this promotion." (Dawan News)

11. In Shanxi Yuncheng: The maximum loan amount for families with two or more children is 1.2 million yuan.

On December 12, according to the WeChat public account "Yuncheng Municipal People's Government," it was reported that recently, the Shanxi Provincial Government issued "Measures to Further Promote the Stable and Healthy Development of the Real Estate Market in Yuncheng City." The measures mentioned that for high-level talents, families with two or more children, etc., the maximum loan limit for housing provident fund loans can increase by 20% from a base of 1 million yuan; optimized standards for the number of housing loans; increased withdrawal limits and frequency for rental housing; expanded the scope for housing provident fund purchasing withdrawals; in the Salt Lake District and Yuncheng Economic and Technological Development Zone, a green channel will be opened for household registration when purchasing commercial housing (including existing housing), giving priority to suitable children from the same household for school enrollment.

12. In Shanxi Linfen: After December 1, those purchasing housing can extract the housing provident fund of parents and children simultaneously.

The Linfen Housing Provident Fund Management Center in Shanxi Province released a notice on "Phase Adjustment of Housing Provident Fund Loan and Withdrawal Policies." The document requires a reduction in the down payment ratio. For employees using the housing provident fund loan to purchase self-occupied commercial housing, the minimum down payment ratio for the first and second houses is 20%; for purchasing affordable housing, the minimum down payment ratio is 15%. For provident fund decoration loans and loans issued before December 31, 2014, that have been paid off before applying for a new loan, these will no longer count towards the number of provident fund loan attempts. The document proposed to expand the scope for housing provident fund purchasing withdrawals. Employees who purchase housing after December 1, 2024, can simultaneously apply to withdraw their parents' and children's housing provident fund.

13. Yiyang, Hunan: The maximum loan amount for housing provident fund has been increased, with a maximum loan amount of 0.72 million yuan for families with two children or more.

The Yiyang City of Hunan Province issued a notice on optimizing and adjusting housing provident fund business policies. The document states that the maximum loan amount for housing provident fund has been adjusted from 0.45 million yuan to 0.6 million yuan, and for families with two or more children (including legal adoptions) following the birth policy, the maximum loan amount is increased to 0.72 million yuan. (The Paper)

14. Puyang, Henan: Those buying affordable housing can withdraw their housing provident fund to pay the down payment and other home purchase costs.

The Puyang Housing Provident Fund Management Center in Henan Province issued a notice on adjusting housing provident fund deposit and usage policies. The document proposes to raise the maximum limit for a single loan. In urban areas, it is increased from 0.6 million yuan to 0.8 million yuan, and in counties and towns, it is raised from 0.5 million yuan to 0.6 million yuan. The maximum limit for a single loan for a 'second home' remains the same as for the 'first home.' At the same time, the down payment ratio is adjusted. For purchasing affordable housing, the down payment ratio is not less than 15% of the total price of the purchased housing; for purchasing commercial housing, the down payment ratio is not less than 20% of the total price of the purchased housing. The document also requires strong support for contributors purchasing affordable housing. Contributors buying affordable housing can withdraw from their personal housing provident fund accounts to pay the down payment and other home purchase costs, and may apply to use housing provident fund loans, with the total withdrawal and loan amount not exceeding the total price of the purchased housing. (Puyang Release)

15. Yaoan, Yunnan: Encourages the purchase of homes for health and leisure, with developers offering at least a 2% discount on the total price for each unit.

The Yaoan County of Chuxiong Yi Autonomous Prefecture in Yunnan Province issued a notification on the 'Eleven Measures to Promote the Stable and Healthy Development of the Real Estate Market in Yaoan County.' In Yaoan urban areas, when purchasing newly built commercial housing, the government provides subsidies based on the family's housing area and family composition, where ordinary families receive 100 yuan per square meter, families with two children receive 150 yuan per square meter, and families with three or more children receive 200 yuan per square meter, with the maximum subsidy for a single unit not exceeding 0.03 million yuan. The recognition of two-child and three-child families must comply with the national birth policy after January 1, 2016. The document also proposes to encourage home purchases for health and leisure. Buyers with household registration outside of Yaoan County, when purchasing newly built commercial housing in Yaoan urban areas, will enjoy the same treatment as local residents, and the real estate companies will additionally provide a discount of no less than 2% on the total purchase price for each unit, actively seeking support for urban tourism policies from the province and state. (The Paper)

16. Shijiazhuang, Hebei: Those buying newly built commercial housing can withdraw their housing provident fund from both their own and their spouse's accounts to pay the down payment.

The Shijiazhuang Housing Provident Fund Management Center in Hebei Province issued a notice on withdrawing housing provident fund to pay for home purchasing down payments. Contributors of the housing provident fund who purchase newly built commercial housing within the city's administrative area can apply to withdraw from their own and their spouse's housing provident fund to pay the down payment for home purchases. This notice will be implemented starting December 25, 2024. (The Paper)