Qingdao Launches Plan to Buy Over 1,200 Second-hand Homes to Boost New Home Sales

Qingdao Plans to Purchase Over 1,200 Second-hand Homes from Individuals to Drive Sales of New Homes

Qingdao City has implemented a trial work plan to promote consumption in the housing sector through the "trade-in" policy. The plan proposes that the city aims to purchase over 1,200 second-hand homes from individuals for use as affordable rental housing and long-term rental properties, supporting the demand for improved housing and encouraging the public to "sell old homes and buy new ones," thereby driving the sales of over 1,200 new commercial homes. The Qingdao Municipal Housing and Urban-Rural Development Bureau, in collaboration with the Municipal State-owned Assets Supervision and Administration Commission, has designated two municipal-level implementing entities. Each district (city) government has also designated one district-level state-owned enterprise as the implementing entity, encouraging widespread participation from social enterprises to achieve "citywide collection by implementing entities and citywide purchase by home-swapping residents.