成都新房价格结束“七连涨”，新政“出手”稳预期

Core Viewpoint - Chengdu has launched a new real estate policy consisting of "17 measures" aimed at optimizing the housing market, which includes phased cancellation of housing sales restrictions and a reduction in the down payment ratio for second homes to 20% [1][5][10] Policy Details - The new policy allows for the phased cancellation of housing sales restrictions, enabling properties purchased before October 14, 2024, to be traded after obtaining the property certificate starting from July 21, 2024 [4][6] - The down payment ratio for second homes has been reduced from 30% to 20%, and the calculation method for housing fund loans has been optimized [5][6] - Additional measures include promoting direct subsidies for home purchases, enhancing the renovation of urban villages and old houses, and supporting the sale of non-residential parking spaces under certain conditions [6][10] Market Trends - Chengdu's new housing policy comes in response to a decline in housing prices, with new residential prices falling by 0.3% and second-hand housing prices decreasing by 0.4% in June [1][7] - The overall market scale in Chengdu has decreased, with residential supply dropping by 22% year-on-year in the first half of 2025 [7][8] - Despite the downturn, there are indications of resilience in the market, with some popular developments still performing well [9][10] Implications for Buyers and Market - The new measures are expected to lower transaction costs for buyers, expand their options, and address existing demand issues [10] - The policy is seen as a strategic adjustment to support the stable and healthy development of the real estate market in Chengdu [10]