Real-time update丨Urban housing "trade-in" policy and activities

In order to improve the circulation of second-hand housing and stimulate the sales of new houses, more and more cities have joined the ranks of "trade-in". Recently, many places have launched a "trade-in" policy for replacement customers in various places. Compiled by the editor (updated in real time)

April 2024: Changsha

On April 18, the Changsha Municipal Bureau of Housing and Urban-Rural Development issued the "Notice on Supporting Residents to Purchase and Improve Housing", stating that from now on, the purchase of new houses by "exchanging the old for the new" can enjoy the preferential down payment ratio and mortgage interest rate of the first house in accordance with the policy of "recognising the house but not the loan";

April 2024: Hai'an, Jiangsu

According to the principle of "who recycles, who replaces, and who benefits", the "trade-in" policy of commercial housing piloted by Hai'an City is organized and implemented in the core area of the urban area (east to Tongyu Road, south to Huanghai Avenue, west to Longan Road, and north to Xintongyang River). In accordance with the corresponding rules, the replacement owner registers on the spot, and after the registration materials are reviewed, the two parties agree on the price of the recycled commercial housing for replacement and sign a contract to purchase the new house of the corresponding real estate.

April 2024: Wuxi City

Wuxi Liangxi Urban Development Group Co., Ltd. issued an announcement that in order to support the demand for improved housing purchases and improve the quality of living of citizens, it has launched the "trade-in" business of commercial housing for sale. There are also certain restrictions on this "trade-in". Among them, the stock of second-hand commercial housing must be located in Liangxi District, should have a real and valid property right certificate, and ensure that the ownership of the house is clear, and there is no mortgage, pledge, guarantee or seizure and other irreplaceable states. At the same time, the replacement of housing must be one-to-one, that is, a stock of second-hand commercial housing for a new house, and the total price of the stock of second-hand commercial housing must not be higher than 60% of the total price of the new house.

April 2024: Zhengzhou

There are two ways to "sell the old and buy the new, trade in the old":

1. Zhengzhou Urban Development Group Co., Ltd. acquires second-hand housing to promote the masses to purchase improved new commercial housing through "selling the old and buying the new, and exchanging the old for the new". Pilot projects will be carried out in Jinshui District, Zhengdong New District and other areas, and 500 sets of second-hand housing will be completed during the pilot period, and 500 sets of second-hand housing will be gradually implemented in the main urban area, and 5,000 sets will be planned to be completed throughout the year.

Second, the government policy encourages the masses to "sell the old and buy the new, and exchange the old for the new" through market transactions. It is planned to complete 5,000 sets of second-hand housing throughout the year.

The plan proposes that the current 30% deed tax subsidy policy in Zhengzhou will be extended to December 31, 2024 for those who purchase newly built commercial housing through the above two methods.

March 2024: Suzhou

In order to meet the housing consumption needs of "trade-in" buyers, "trade-in" replacement buyers and their immediate family members can apply for housing provident fund withdrawal and loan business if they meet the relevant conditions for housing provident fund withdrawal and loan. If you purchase a house in the form of house ticket resettlement or "trade-in", and apply for housing provident fund withdrawal and loan business, the handling materials and procedures shall be implemented with reference to the existing policies.

February 2024: Yangzhou

The notice proposes to implement the "old for new" deed tax subsidy policy. From January 1, 2024, during the validity period of the policy, those who sell their own housing in the urban area and purchase a newly built commercial house within one year, or purchase a newly built commercial house in the urban area and sell their own house within one year, will be given a deed tax subsidy for the newly purchased commercial housing (the subsidy ratio shall not exceed 1.5%), which cannot be enjoyed at the same time as the deed tax subsidy policy for talents to purchase the first house.

December 2023: Shenyang, Liaoning Province

The Shenyang Municipal Real Estate Bureau announced that there is a subsidy for "selling the old and buying the new". From December 22, 2023 to March 31, 2024, within the scope of Shenyang, buyers who sell their own houses and purchase a set of newly built commercial housing will be given a subsidy of 100 yuan/square meter by the municipal finance department for the purchase of newly built commercial housing.

December 2023: Wuhan, Hubei Province

Wuhan Real Estate Development Association and Wuhan Real Estate Brokerage Industry Association jointly launched the "Beautiful Housing, Trade-in" activity, which issued an initiative for the city's real estate development enterprises and real estate brokerage institutions, and adopted a tripartite joint approach of development enterprises, brokerage institutions and home buyers, and finally realized "the development enterprise locks the intended housing for the buyer for 90 days".

December 2023: Suzhou, Jiangsu Province

The Housing and Urban-Rural Development Bureau of Suzhou City, Jiangsu Province issued a notice to implement the "sell the old and buy the new" deed tax subsidy from December 1, 2023, and all those who sell their own houses in Suzhou City since January 1, 2023 and buy new houses between December 1, 2023 and December 31, 2024 can enjoy the deed tax subsidy for house purchase in different levels, up to 100% of the house purchase deed tax subsidy. All cities and districts will announce specific implementation rules in the near future.

November 2023: Suzhou, Jiangsu Province

Suzhou Real Estate Industry Association, together with the Party Building Alliance of the Municipal Compound, carried out a group purchase activity for housing in Suzhou, which lasted for three months. At the event, the Suzhou trade-in measures were released to build a trade-in platform. Carry out the whole chain optimization of the real estate transaction process, and launch the "priority sale", "buy with confidence" and "new purchase" services to help buyers lock in the new houses they want in advance in the preferred housing pool, and at the same time accelerate the sale of old houses.

November 2023: Yuecheng District, Shaoxing City, Zhejiang Province

Yuecheng District announced the implementation rules for the "trade-in" of second-hand housing:

Residents who need to replace their old homes first communicate their needs with the brokerage institutions that belong to the "trade-in" alliance list, sign a service agreement, and then select their favorite new homes through the "trade-in" alliance real estate project list;

The real estate development company, the real estate brokerage agency and the intending residents jointly sign a tripartite agreement, and the residents pay the corresponding purchase intention fee to the new housing project belonging to the "trade-in" alliance and sign a subscription agreement, and the real estate development company helps the residents lock in the selected houses;

The real estate agency is responsible for verifying, inspecting, surveying and evaluating the residents' old houses, providing the second-hand housing sales guidance price in line with the market transaction price, and helping residents sell the old houses through multiple channels within the agreed period according to the service agreement;

If the old house is successfully sold within the agreed period, the resident needs to complete the purchase of the designated new house, otherwise the developer has the right not to refund the intention money; If the old house cannot be successfully sold within the agreed period, the real estate development company shall refund the resident's intention to purchase the house in a timely manner, and the resident does not need to bear the risk of default. "

November 2023: Yancheng City, Jiangsu Province

As of the end of February 2024, individuals who sell their own houses and purchase newly built commercial houses of 120 square meters or more will be given a housing purchase subsidy of 30% of the deed tax on the new houses they purchase on the basis of enjoying the deed tax subsidy for the new houses. Real estate industry associations guide real estate enterprises and real estate brokerage institutions to provide services for "new purchases". Encourage all districts and municipal state-owned enterprises to use "sold" houses as the object of raising affordable housing.

November 2023: Taicang City, Jiangsu Province

The "trade-in" policy of commercial housing on a trial basis in this city is to sell the qualified ordinary commercial housing under the name of the person to the designated state-owned assets company in accordance with the corresponding rules, and purchase the newly built commercial housing designated by the state-owned assets company.

At the same time, for old houses enjoying the "trade-in" policy, the requirements include that they are ordinary commercial houses with a construction area of less than 144 square meters within the city limits of Taicang City; A set of existing commercial housing can only be replaced by a set of newly built commercial housing; The total replacement price of the existing commercial housing shall not be higher than 60% of the total price of the new housing purchased. In addition, the stock of commercial housing requires independent real estate property rights, and the property rights are clear. "

November 2023: Yulin City, Guangxi

Real estate development enterprises, real estate brokerage agencies and intending buyers need to sign a tripartite contract and pay a deposit of intent to the new house project to the new housing project, which will be deposited by the municipal housing and construction

The special fund management account opened by the bureau shall be verified, inspected and surveyed by the real estate brokerage agency for the stock of housing, and if the stock housing is not sold within the agreed time, the intention to return the new house shall be determined

gold, termination of new home transactions.

November 2023: Lishui City, Zhejiang Province

Encourage development enterprises, brokerage institutions, and state-owned companies to pilot and promote the "old for new" activities of residential housing. If the sale of the old house is not completed within the agreed time, the developer may be encouraged to carry out the old house under the premise of free negotiation between the developer and the buyer, and the purchase amount can be offset against the purchase price for the replacement of the new house. Encourage state-owned enterprises to intervene in the expropriation work in advance in combination with urban organic renewal projects such as historical districts and old residential areas, and support residents' demand for housing exchange in accordance with relevant policies.

The transaction time of "old house" and "new house" must be from the date of policy issuance to June 30, 2024. Enterprises or individuals participating in the "trade-in" activity will be given a 100% subsidy for the local part of the tax retention of the "old house", that is, the second-hand housing transaction, and the tax subsidy shall be implemented in accordance with the relevant provisions of the Policy Interpretation of the Implementation Rules for the Implementation of the Tax Subsidy for Housing Purchase Transactions in the Central Urban Area of Lishui [2022] No. 17 of the Lishui Real Estate Health Development Office. Among them, individuals who buy second-hand houses will enjoy high transaction tax subsidies and house purchase subsidies. During the event, if there are more than one old house for the new one, the old house will be subsidized for 1 set. "

October 2023: Haining City, Zhejiang Province

During the period from September 27, 2023 to September 26, 2024, Haining encourages real estate enterprises to purchase the stock houses of intending buyers, and gives a financial subsidy of 2% of the total purchase price of the enterprise to the purchase of stock houses by real estate enterprises, which will be cashed after applying for real estate certificates.

October 2023: Jining City, Shandong Province

Under the guidance of Jining Housing and Urban-Rural Development Bureau and Rencheng District Housing and Urban-Rural Development Bureau, Shell Jining Station signed a cooperation agreement with a number of real estate companies in Jining to "rejuvenate the house and let it go to buy". During the service agreement period, Beike skewed the traffic of the new purchase service on the network side, and the broker side focused on promotion to help customers accelerate the release of old listings and the accurate locking of new listings. If the old house is sold, the new house will be purchased; If it is not sold, the new house subscription contract can be terminated, and the developer will refund the subscription fee in full.

In October 2023, buyers in Ningbo, Zhejiang Province, first selected the newly built commercial housing, signed a subscription agreement with the developer for the newly built commercial housing ("buy with confidence"), and signed a second-hand housing ("priority sale") agreement with a brokerage institution, clarifying their intention to buy and sell the property, and signing a tripartite agreement at the same time. If the second-hand housing is sold within the agreed time, the buyer shall go through the purchase procedures of the newly built commercial housing according to the agreed process; If the second-hand housing is not sold within the agreed time, the developer will refund the subscription fee for the newly built commercial housing as agreed, and the buyer does not need to bear the liability for breach of contract.

October 2023: Lianyungang City, Jiangsu Province

Support "Sell the old for the new". Encourage real estate development enterprises and brokerage institutions to provide exclusive housing and preferential programs for buyers participating in the "new purchase". Explore a new way of "selling the old for the new", and allow the payment of the construction fee for the relocation of affordable housing for development projects that have been transferred but not built, and the state-owned enterprise platform will purchase the "old" houses as affordable housing or talent housing within a time limit, so as to ensure that the "new one" has no worries.

September 2023: Qingdao City, Shandong Province

Qingdao Real Estate Association issued the "Notice on Promoting the Industry's "Good Experience and Good Practices" Cases to promote a new model to the city's development enterprises and brokerage companies to open up the process of second-hand housing sales and new housing subscription - "excellent fresh sales". The buyer signed a tripartite agreement with the developer and Beike, signed a new house subscription agreement with the development company, and signed a housing acceleration sales agreement with the cooperative brokerage company of the Beike platform. The agreement will stipulate a time period, during which the developer will help buyers lock in the intended listings, and the cooperative brokerage company of the Beike platform will help customers accelerate the sales of old houses through online traffic tilt and online and offline promotion of brokers. If the old house is successfully sold, the customer can go through the next purchase process of the new house; If the old house is not sold, the developer will refund the deposit, and the customer does not need to bear the risk of default.

September 2023: Tai'an City, Shandong Province

For the masses who have the need to change houses, some intermediaries have launched "old for new" products, which are cooperated by high-quality real estate companies and brokerage agencies to implement the linkage of first-hand and second-hand housing transactions to help buyers lock in the intention of new houses in advance, and at the same time accelerate the sale of old houses, and are committed to protecting the legitimate rights and interests of the masses in the process of housing replacement and speeding up the transaction speed of housing.

September 2023: Yangzhou City, Jiangsu Province

The real estate brokerage institution communicates with the intended customer about the replacement needs and signs the real estate brokerage service contract; Interested customers select the new housing that needs to be replaced; Real estate brokerage institutions conduct verification, house inspection and on-site investigation of housing stock; Prospective customers complete the purchase procedures for a new house. Buyers can pay a deposit first to see the new house in the center, and then complete the final purchase procedures after the real estate agency sells their house. The selling cycle varies according to the period agreed by each real estate company and buyer, generally one to three months. If, after three months, the existing house is not sold, the full deposit can be recovered from the developer.

September 2023: Jinan City, Shandong Province

Some real estate projects in Jinan have launched "trade-in" house buying activities, and the intensity of different real estate activities is different. On the whole, buyers have a certain grace period after booking, and there is also a certain amount of new housing discounts/new housing subsidies to hedge second-hand housing transaction taxes, such as second-hand housing can not be disposed of after the grace period, and you can also check out unconditionally.

September 2023: Rizhao City, Shandong Province

Relevant government departments have launched "trade-in" services. The process is that the customer registers the information of the old house; The intermediary accepts the registration, verification, house inspection, field survey and preliminary estimate of the property price, and the customer agrees; The customer preliminarily locks in the intended listing; The customer signs an agreement with the intermediary and the real estate company and pays the intention fee to lock in the house; Prospective customers complete the purchase procedures for a new house. From July 1, 2022 to March 31, 2024, you can enjoy a subsidy of 2%-3% of the total housing price for the purchase of commercial housing.

September 2023: Nantong City, Jiangsu Province

Encourage real estate brokerage institutions to carry out "new purchase" business cooperation. Real estate agencies are entrusted by real estate companies to help residents who are interested in buying new houses sell their old houses. Residents can sign a letter of intent to subscribe with a real estate company and lock in the new house for a certain period of time, and the sale proceeds after the old house is sold can be used as a down payment for the purchase of the new house; If the old house is not sold within the time limit, the resident can cancel the letter of intent and will not be liable for breach of contract.

At the same time, the implementation of the "old for new" subsidy policy. For those who sell their own houses within the main urban area and purchase the first or second new commercial housing within the main urban area between September 16, 2023 and March 31, 2024, a housing purchase subsidy of 0.5% of the total purchase price of the newly built commercial housing purchased will be given. The difference between the date of sale of the old house and the date of purchase of the new house must be within 365 days (inclusive)"

September 2023: Nanjing, Jiangsu Province

Nanjing issued new measures to promote the development of the real estate market and launched the "New Purchase" service. The Nanjing Real Estate Association and the Real Estate Brokerage Industry Association jointly developed enterprises and key brokerage institutions launched the "New Purchase" service, built a "New Purchase" supermarket, and passed the "Priority Sell, Rest Assured Buy" guaranteed transaction service.

August 2023: Zibo City, Shandong Province

Relevant government departments launched the "trade-in" home purchase service. Buyers fancy the new house, and the real estate company, the intermediary agency signed a tripartite agreement, pay the deposit first. After the intermediary company verifies, inspects and surveys the buyer's old house, the real estate company pays a marketing fee to the intermediary company to carry out the pre-sale decoration, cleaning and shooting publicity of the old house. If the old house is sold within the specified period, the purchase procedure for the new house will be signed as agreed. If the old house is not sold, the real estate company will refund the deposit, and the marketing costs will be borne jointly by the developer and the intermediary company.

August 2023: Jiangxia District, Wuhan City, Hubei Province

Encourage "trade-in", from the date of the issuance of the measures, sell their own housing, and before December 31, 2023, individuals (families) who purchase newly built commercial housing in Jiangxia District will be rewarded at 1% of the contract transaction amount for the purchase of newly built commercial housing.

July 2023: Xuzhou City, Jiangsu Province

Individuals who sell commercial housing in the main urban area of Xuzhou City from February 27 to December 31, 2023, and purchase newly built commercial housing in the main urban area from July 1, 2023 to December 31, 2023, will be given a certain subsidy according to the contract price of the newly purchased commercial housing. Among them, for the purchase of newly built commercial housing with an area of 90 square meters or less, the subsidy will be 0.8% of the contract price; For an area of more than 90 square meters, a subsidy of 1.2% of the contract price will be provided.

Editor's point of view:

The "trade-in" policy will help activate the second-hand housing market and promote the upgrading of housing consumption. With the development of cities and the improvement of residents' living standards, many families have the need to improve their living conditions, but the difficulty in selling old houses and the high pressure to buy new houses restrict their consumption decisions. Through the "trade-in" policy, the government has provided more convenient and economical solutions for these families, which will help unleash potential demand for housing and promote the healthy development of the real estate market.

Second, the "trade-in" policy will help optimize the allocation of resources and improve the efficiency of housing use. In the city, some old communities and houses have problems such as outdated facilities and poor environment, while new houses often have better living environment and supporting facilities. Through "trade-in", the government can guide residents to replace old houses with new ones, thereby improving the quality of housing and living environment in the entire city.

However, it is also important to see some of the challenges that may be faced in the implementation of the "trade-in" policy. For example, how to ensure the fairness and transparency of policies, how to reasonably assess the value of old houses and ensure the fairness of the exchange process, and how to protect the rights and interests of home buyers to avoid disputes in the exchange process.