河南信阳官宣现房销售，业内：预售改革或“小步慢跑”落地

Core Viewpoint - The implementation of a "new and old distinction" principle in promoting the sale of completed properties in Xinyang is a significant shift in China's real estate market, aiming to address the drawbacks of the pre-sale system and enhance buyer confidence [1][5][10]. Group 1: Policy Changes - The Xinyang Housing and Urban-Rural Development Bureau has introduced measures to strengthen the management of pre-sale housing, requiring new projects to reach a construction completion stage before applying for pre-sale permits [5][6]. - The new policy mandates that all newly sold land in the central urban area must adopt a completed property sales model, marking Xinyang as the first city to fully implement this approach [6][10]. Group 2: Market Impact - The shift to completed property sales is expected to reduce risks for buyers, ensuring that the quality of construction is visible and minimizing issues related to unfinished projects [6][10]. - Despite the policy changes, the immediate impact on Xinyang's real estate market may be limited due to existing inventory pressures and a slow market adjustment phase [7][11]. Group 3: Industry Trends - The transition from a pre-sale system, which has been in place for nearly 30 years, reflects the need for reform in the real estate sector as it moves into a "stock era" [8][10]. - The ongoing exploration of completed property sales is part of a broader trend to optimize the regulatory framework surrounding housing sales, with over 30 provinces implementing similar policies since late 2022 [10][11]. Group 4: Future Considerations - The future landscape of the real estate market is expected to feature a coexistence of both pre-sale and completed property sales, allowing for flexibility in response to market conditions [12]. - The successful implementation of completed property sales will require careful consideration of supporting policies, including financing and regulatory adjustments, to ensure a balanced market supply and demand [11][12].