Core Viewpoint - Hainan Province is proposing a new management approach for affordable housing, which includes regulations on planning, construction, allocation, and property rights, aiming to better align supply and demand in the housing market [2][3]. Group 1: Construction and Allocation - The new management approach emphasizes a demand-driven model for the construction and allocation of affordable housing, requiring local governments to develop annual plans based on housing demand and supply conditions [2]. - Local governments are restricted from applying for new affordable housing projects if the ratio of sold units to started units is below 85%, to prevent mismatches in supply and demand [2]. Group 2: Application Conditions - The draft outlines specific eligibility criteria for local residents and talent from outside the province to apply for affordable housing, allowing local governments to adjust these criteria based on national policies and local housing needs [2][3]. Group 3: Property Rights and Trading - Affordable housing will have a five-year closed circulation period, during which owners can only transfer their properties to eligible waiting list applicants, with local housing authorities having priority [3]. - After five years, owners can apply to list their affordable housing for sale or obtain full property rights, transitioning the housing to market-rate status [3]. - The selling price of affordable housing is capped at 60% of the average market price of similar properties in the area from the previous year [3]. Group 4: Land Use - Existing construction land that meets spatial planning criteria can be repurposed for affordable housing, including converting non-residential land types after proper evaluation and payment of land use fees [4].