Recently, Chongqing has introduced a series of innovative measures to support improved housing consumption, covering multiple aspects including housing voucher resettlement, home purchase support, housing supply, promotional activities, and revitalization of existing properties.
First is the promotion of the housing voucher resettlement system, which includes three key points: First, increasing the proportion of housing voucher resettlement, steadily advancing the renovation of urban villages and dilapidated housing, and encouraging districts and counties to expand the proportion of housing voucher resettlement in projects such as housing expropriation on state-owned land and urban village renovation. Second, encouraging developers to increase discounts for purchasing homes with housing vouchers, where using vouchers will result in greater discounts. Third, actively exploring limited transfer of housing vouchers, differentiated rewards, and providing preferential policies such as school enrollment assistance, renovation subsidies, and home appliance subsidies.
“In recent years, Chongqing has continuously promoted large-scale urban renewal, with plans to implement 150 urban village renovation projects this year, affecting 15,700 households.” Industry insiders stated that expanding the proportion of housing voucher resettlement can direct displaced residents toward the real estate market, releasing more purchasing power.
Second is encouraging the introduction of home purchase support policies. Within their fiscal capacity, districts and counties can provide home purchase subsidies to various groups including talented individuals and urban residents without housing, and implement differentiated purchase subsidies for multi-child families. Currently, 12 districts and counties including Dadukou, Jiangjin, Nanchuan, Qijiang, Dazu, Bishan, Tongnan, Rongchang, Liangping, Fengdu, Shizhu, and Xiushan have released relevant district-level home purchase subsidy policies. Subsequently, some districts and counties will follow up with “one district, one policy” related preferential measures.
Third is accelerating the supply of “quality housing.” In recent years, the best-selling properties in Chongqing have been high-quality “good houses” featuring vertical greening, smart technology, and comfort, attracting numerous clients with improvement needs. Not only do these properties achieve significantly higher average transaction prices than ordinary residences, but their sales velocity is also approximately 30% faster than standard housing products.
Additionally, the newly introduced measures focus on categorized promotions and inventory revitalization, conducting targeted promotional activities for groups such as graduates, new urban residents, and migrants, while providing differentiated home purchase subsidies.
Regarding the revitalization of existing commercial properties, guidance is provided to districts and counties to establish mechanisms for discussing usage adjustments, encouraging the renovation of inefficient buildings and idle commercial facilities to create “innovation and entrepreneurship creative activity centers,” and promoting functional transformation and business integration. Combined with urban renewal, resources such as old factory buildings and scattered land parcels are being activated and utilized, guiding social capital to develop new spaces like community canteens and art galleries around the “15-minute high-quality life service circle,” while expanding elderly care, childcare services, and fostering integrated development of culture, commerce, tourism, and sports.
Data shows that the housing market in Chongqing’s central urban areas has now taken the lead in stabilizing and recovering from decline, showing a positive trend of increasing both volume and price. From January to August this year, the transaction area of housing in the central urban areas increased by 2.2% compared to the same period last year, maintaining positive growth for 11 consecutive months.
