The Ministry of Housing, Urban-Rural Development and other departments jointly issued the “Notice on Improving the Commercial Housing Sales System” today, which clearly accelerates the implementation of existing housing sales and continuously optimizes the traditional commercial housing pre-sale model. Overall, the “Notice” imposes new requirements on pre-sale and existing home sales, respectively. In fact, long before the new regulations were introduced, many places such as Hainan and Jingmen in Hubei had already launched pilot projects to sell existing homes. The “Notice” issued this time means that sales of existing homes have taken another step forward and are officially being promoted steadily throughout the country. Overall, it is time to promote the sale of existing homes. The core of this policy is very clear, which is to strictly control real estate delivery risks, prevent misappropriation of funds, resolve property market pain points such as unfinished buildings, delayed handover, poor housing quality, and difficulties for buyers to defend their rights, and protect the legitimate rights and interests of ordinary buyers in all aspects. This new policy adheres to the principle of prudence, does not engage in “one size fits all”, and adopts the idea of parallel pre-sale and current sales, and a steady transition. While stabilizing the property market, it gradually optimizes the industry development model. In the long run, the steady transition of pre-sale housing will completely restructure the property market transaction security system, eliminate the high-risk development model of the industry, make the real estate market more standardized and healthy, and make ordinary people feel safer and more at ease when buying a house.

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