The real estate market in Hunan province is making significant strides as 576 projects have been included in the real estate “white list” and 14 cities have established real estate financing coordination mechanisms. This move is expected to enhance the confidence of home buyers and stabilize the market.
The Ministry of Housing and Urban-Rural Development recently announced that 214 cities in 29 provinces across the country have established real estate financing coordination mechanisms, proposing in batches a “white list” of real estate projects that can provide financing support and pushing it to commercial banks. A total of 5349 projects were involved across the country, with 576 projects included in the “white list” in Hunan province alone.
The real estate financing coordination mechanism has shown results in many places in Hunan Province, with a total of 576 projects included in the “white list”, and 24 projects have received new financing of 1.648 billion from banks. The majority of the projects shortlisted for the “white list” are high-quality projects, signaling a positive development for the real estate market.
According to industry insiders, projects included in the “white list” are mostly under development and construction, have the need to “guarantee delivery”, and are more inclined to local real estate companies and urban investment companies, making them high-quality projects. This move is expected to ease the financial pressure on enterprises, stabilize the market and expectations, and release more demand for home purchases.
The release of the “white list” will make home buyers feel more at ease and enhance their confidence, as the progress of delivery and construction will be more guaranteed. This will help promote a more stable and healthy development of the real estate market, with the banking industry providing more targeted financing support for real estate projects with greater potential and sustainable development.
Overall, the establishment of the real estate financing coordination mechanisms and the inclusion of projects in the “white list” in Hunan province is a positive step towards rejuvenating the real estate market and boosting the confidence of home buyers.