Nanjing Real Estate New Policy: Complete "Sell Old and Buy New" by Year-End with 1% Loan Interest Subsidy, Total Fund of 100 Million Yuan

Ask AI · How can Nanjing’s new housing policies help young people and seniors settle down?

A view of Nanjing city. Visual China Data Photo

On March 20, the Nanjing Housing Security and Real Estate Bureau released the “Policy Measures for Stabilizing the Real Estate Market” (referred to as “Measures”), which proposes specific initiatives in six areas: differentiated housing supply, encouraging housing consumption, promoting housing voucher policies, reducing homebuying costs, optimizing the business environment, and creating a positive public opinion environment.

Specifically, regarding residential land supply, the city will offer land suitable for young people, seniors, integrated urban-rural populations, and urban circle clusters based on actual needs. This includes land with good location conditions, moderate size, appropriate floor area ratio, and complete public amenities, helping developers create quality differentiated homes. Guidance will be provided to improve design and construction standards for renovation-type housing projects, revise quality enhancement guidelines, strengthen construction supervision, and effectively improve construction quality.

The “Measures” state that further encouragement will be given to housing consumption through “old for new” exchanges. Support will continue for intermediary agencies offering “help sell” services, and market-based “old-for-new” exchanges will be encouraged across various entities. Homebuyers who complete “sell old, buy new” transactions from the policy release date until December 31, 2026, will receive a subsidy of 1% of their total loan amount. Developers are also encouraged to offer diversified promotional discounts based on project specifics to further stimulate residents’ housing upgrade needs.

The Nanjing Housing Security and Real Estate Bureau said that newly purchased commercial housing must complete online contract signing by December 31, 2026, and register the contract and mortgage by March 31, 2027. Selling existing homes must complete property transfer registration by December 31, 2029. In simple terms, residents can list their old homes for sale and buy new ones with a mortgage, and enjoy a 1% interest subsidy on their loans. The total subsidy fund is capped at 100 million yuan, on a first-come, first-served basis.

Regarding the implementation of various “housing voucher” policies, the city will expand cross-district resettlement housing options and strengthen publicity and guidance for these options. Under the premise of respecting public wishes and market rules, the goal is to better meet the diverse resettlement needs of those affected by expropriation. The “talent housing voucher” policy will be fully promoted to accurately match the housing needs and development intentions of various talents in Nanjing.

Additionally, individuals (excluding general taxpayers among individual businesses) selling housing purchased less than two years ago will pay full VAT at a rate of 3%. The minimum down payment ratio for commercial properties (including “commercial-residential mixed-use” properties) will be adjusted to no less than 30%, promoting the effective release of various housing demands.

In land transfer procedures, the city will further improve land quality, proactively coordinate planning services, and meet enterprise needs by enabling “land acquisition and immediate construction” and “land acquisition and start of construction.” During development, technical guidance for construction drawing review will be provided in advance for eligible projects, and phased construction permits may be granted based on actual foundation (pile) application. Fire safety inspections will be extended forward with technical support to improve project progress. During sales, approval processes will be further optimized, and for projects with ongoing mortgages, a “mortgaged listing” trial will be implemented for pre-sale of completed units, along with “mortgaged online signing” for general mortgage projects. Enhanced pre-sale services and promotional efforts will ensure efficient market entry.