Aug 28 — Multiple ministries issued three major documents on housing sales
reform, reconstruction of the real-estate credit system and capital-market
support to build a new property development model. New measures include
prioritizing sale of completed homes for newly released land and raising the
unified presale threshold to main-structure topping-out. Markets view this as a
structural overhaul of the commodity-housing presale system. Guangdong Real
Estate Industry Association president Wang Shao said the changes are a phased,
categorized reform rather than an immediate end to presales. The policy package
aims to lower sector leverage, strip excessive financialization from housing and
refocus real estate on residence. Wang said completed-home sales will
substantially raise industry entry barriers and force a reconstruction of
developers’ traditional high-turnover financing and development logic; he
expects short-term adjustment pain but possible entry into a higher-quality
development cycle over the medium to long term.
