“一手交钱一手交房”时代真要来了？取消预售制，或成楼市最大变局！

Core Viewpoint - The real estate sales model in China is set to undergo a fundamental transformation by gradually phasing out pre-sale of properties and shifting towards selling completed homes, with significant changes expected during the "14th Five-Year Plan" period, particularly around 2026 [1][5]. Group 1: Background and Current Issues - The traditional pre-sale system has allowed developers to sell properties before they are built, leading to significant risks for buyers, including the "unfinished building" problem, where projects are halted, leaving buyers in financial distress [3][5]. - The recent downturn in the real estate market has highlighted the vulnerabilities of the pre-sale model, prompting a shift in policy direction to protect consumer rights and address financial risks within the industry [3][5]. Group 2: Impacts of the Shift to Completed Home Sales - The transition to selling completed homes is expected to significantly reduce transaction risks for buyers, allowing them to inspect properties before purchase, thereby enhancing consumer confidence and satisfaction [5][9]. - This change will raise the entry barriers for real estate companies, as they will need to rely on their own funds or compliant financing to complete projects before selling, potentially leading to the elimination of weaker firms from the market [6][8]. - The focus on completed homes will shift market competition from speculative designs to actual product quality, encouraging developers to improve construction standards and customer service, fostering a more refined and quality-driven industry [8][9]. Group 3: Market Stabilization and Transition - Implementing the completed home sales model will likely extend the timeline for new home supply, which may help alleviate existing inventory pressures in certain cities and stabilize market expectations [9][11]. - A gradual approach to this significant reform is necessary, as it involves adjustments in various aspects of real estate development, financing, and land supply, requiring careful planning and support from financial institutions [9][11]. Group 4: Conclusion - The move towards eliminating pre-sale and promoting completed home sales is not merely a change in sales strategy but aims to fundamentally protect buyer rights, enhance industry standards, and promote long-term stability in the real estate market, marking the beginning of a more transparent and quality-focused era [11].