Lianyungang Municipal Housing and Urban-Rural Development Bureau has taken steps to boost the real estate market and promote housing consumption, according to a notice issued on October 17. The department plans to establish a centralized real estate trading place and has invited real estate development companies and brokerage agencies to settle there.
To encourage housing purchase, the department will guide real estate development companies to offer preferential promotions and provide convenient one-stop house selection and purchase services. They will also encourage these companies to provide exclusive housing resources and preferential plans for home buyers participating in the “replacement purchase” program.
In an effort to explore new avenues for housing sale and purchase, the authorities will allow for the “selling old for new” concept. For development projects that have been sold but have not yet been built with affordable housing, developers will be permitted to pay the relocation construction fee of affordable housing. State-owned enterprise platforms will acquire these “old” houses within a specific time frame to convert them into affordable housing or talent accommodations, ensuring a hassle-free replacement process for property owners.
Moreover, the department aims to expand the use of the “house ticket” resettlement model beyond urban housing expropriation. They plan to explore its implementation in land acquisition compensation and new rural construction, among other aspects. This move is intended to meet the diverse resettlement needs of those affected by expropriation and reduce the resettlement transition period.
These initiatives by the Lianyungang Municipal Housing and Urban-Rural Development Bureau are expected to provide a boost to the real estate market and encourage housing consumption. With the introduction of a centralized real estate trading place and the availability of one-stop services, potential homebuyers can look forward to a more streamlined and convenient house selection and purchase process. The promotion of preferential plans and exclusive housing resources will also benefit those participating in the “replacement purchase” program, making the prospect of buying a new home even more enticing.
By allowing developers to convert unsold properties into affordable housing and talent accommodations, the department aims to address the housing needs of different segments of the population. Additionally, the expansion of the “house ticket” resettlement model to other areas will provide more options for those affected by expropriation, ensuring a smoother transition during the resettlement process.
Overall, these efforts by the Lianyungang Municipal Housing and Urban-Rural Development Bureau reflect a proactive approach to stimulating the real estate market and promoting housing consumption. As these measures take effect, it is anticipated that the local real estate sector will experience increased activity and a positive impact on the overall economy.