Minister of Housing and Urban-Rural Development of Prc: Maintain High Confidence in Stabilisation and Recovery of Real Estate Market

SHANGHAI, Mar 16 (SMM)- Ni Hong, Minister of Housing and Urban-Rural Development, said that he is now full of confidence in the stabilisation and recovery of the real estate market. First, from the perspective of market supply and demand, the pandemic prevention and control policies have also been optimised, which has a positive impact on both supply and demand of real estate industry. From the perspective of supply, construction personnel and construction materials can enter the site smoothly, and thus the resumption rate of many housing projects has greatly increased. From the perspective of demand, the visits at the sales offices of various real estate projects has also increased significantly, and the transaction volume has also improved significantly. Second, judging from market expectations, in January and February this year, the sales of commercial housing across the country stopped declining and the overall prices were stable. At the same time, the work of guaranteeing the delivery of buildings is also advancing steadily, which effectively protects the legitimate rights and interests of home buyers. The rational financing of real estate companies has also been improved. It should be said that the confidence of market players is recovering. Third, from the perspective of policy implementation, we have introduced policies that strongly support the first set of housing and reasonably support the second set of housing, and are being implemented to bear fruit. At the same time, all localities are earnestly implementing the requirements of not allowing speculators to re-enter the market, and in principle not supporting the purchase of more than three sets of houses.