Multiple regions optimize policies for a stable start to the real estate market in the Year of the Horse

Since the beginning of this year, China’s real estate market has experienced a strong policy boost. Many regions across the country have implemented targeted support policies, from optimizing purchase restrictions and increasing housing provident fund limits to issuing home purchase subsidies and promoting special debt collection, continuously stimulating market vitality and helping the housing market start off smoothly.

On March 1st, the first weekend after Shanghai’s “Seven Policies” were implemented, sales consultants at the Jinmao Tangqian project carried floor plans and policy interpretation manuals, moving actively among the crowds. According to the project marketing manager, within three days of the new policies’ implementation, there were 326 group visits, averaging over 100 visits per day, a 60% increase compared to before the policies. The transaction volume was also impressive, with 20 units successfully sold in three days—doubling the sales during the same period before the new policies.

Ms. Wu from Nanjing is a direct beneficiary of the new policies. Upon hearing that Shanghai’s housing provident fund loan limit had been increased, she took a high-speed train to Shanghai overnight to make a purchase. “My son works in Shanghai, and I’ve always wanted to buy him a home. I was worried about the monthly mortgage pressure, so I hesitated. Now, the maximum first-home housing provident fund loan is up to 2.4 million yuan, and with additional policies, it could be even more. I’ll pay the down payment for him, and he’ll use the provident fund to repay the loan. The pressure is much less now,” Ms. Wu said.

The marketing director of the Jinmao Tangqian project in Shanghai stated that the new “Seven Policies” effectively stimulated various customer groups such as first-time buyers and those looking to upgrade, continuously opening up channels for replacement and further releasing market potential.

From “being able to buy” to “buying well,” many homebuyers are proactively increasing their budgets. At the China Resources Bund Riverside Residence sales center in Hongkou North Bund, during the first weekend after the policies’ implementation, sales consultants were busy with little free time.

“Since the new policies were announced, two very obvious changes have occurred: first, inquiries from new clients increased by 30% compared to before; second, the decision-making cycle for existing clients has significantly shortened. Clients who were previously hesitant are now making moves—they’re worried about their preferred floors and layouts being snatched up. All these indicate a notable boost in market confidence,” said Li Lingxiao, Sales Director of China Resources Land Bund Riverside Residence. “Since the official implementation of the ‘Seven Policies’ on February 26th, the project’s transaction volume has reached 150 million yuan.”

“We’ve also recently received some clients who had been considering buying outside the ring road due to social security or individual tax duration restrictions. After the new policies, they are now looking at properties inside the ring,” Li added.

Not only in Shanghai, but before the Spring Festival this year, several local governments optimized their real estate policies. Chongqing’s housing market received a “big gift package.” On February 9th, Chongqing issued the “Notice on Leveraging Policy Integration to Stabilize the Real Estate Market,” introducing 22 policies covering supply, demand, activating stock, service quality, and expectations, fully leveraging policy synergy to stabilize the market. In Hubei, the Hubei Provincial Department of Housing and Urban-Rural Development issued the “Hubei Province ‘Good Service’ Guidelines (Trial),” focusing on creating space for “good services,” defining standards for housing, dining, tourism, shopping, entertainment, medical care, and elderly care, and incorporating these into land transfer conditions. Residential projects launched before the holiday often chose locations with convenient transportation and complete amenities in core areas, attracting buyers with mature transportation, education, medical, and other public services.

Senior analyst Meng Xinzeng from the China Index Academy pointed out that since 2026, many local real estate regulation policies have shown a “multi-point bloom and precise implementation” trend. For example, cities like Fujian and Jiangxi have introduced supporting policies for urban renewal to improve city functions and activate stock resources; Fujian and Chongqing have optimized housing provident fund loan policies to further lower purchase thresholds; Chongqing, Ningbo, Jinan, and others have issued home purchase subsidies, and talent housing vouchers introduced by Jiangsu have also energized market demand.

“At the same time, the pace of advancing the collection of idle land through special bonds continues to accelerate. In February alone, Guangdong, Zhejiang, and other regions issued about 20.4 billion yuan in special bonds to recover idle land,” Meng added. As of the end of February, 26 provinces and cities nationwide had announced plans to use special bonds to acquire idle land, totaling 770 billion yuan; actual issuance reached 335 billion yuan, with an issuance progress of 43%. The rapid deployment of funds has significantly accelerated, providing strong support for activating stock resources and stabilizing market expectations.

Zhang Bo, President of 58 Home Research Institute, stated that earlier data from the National Bureau of Statistics showed that the second-hand housing market in core cities stabilized first in January. This is the result of combined efforts from policy initiatives and market confidence recovery. Early policy intervention helps accelerate housing demand release.