the dawn of the residential dream: shanghai’s policy adjustments release demand for improved housing

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changes in “residency transfer”: "residence transfer" refers to living in shanghai for a long time, but the waiting time for final settlement is usually 7 years. however, the policy has recently been adjusted to give some people the right to purchase houses 4 years in advance, that is, after meeting the settlement conditions for 7 years, they can enjoy the benefits of realizing their dream of settling down earlier. this means that some residents will benefit from the change in the “residence transfer” policy and enjoy the right to realize their dream of settling down earlier.

implementation of “separation of work and residence”: the purchase restriction policy in lingang new area has also been adjusted over time, with the goal of promoting industry-city integration and "job-housing balance." for people who work in the lingang new area but live in other areas, as long as they meet the upper limit of house purchase conditions and actually live outside the new area, even if they own multiple houses, they can purchase an additional house in the lingang new area, reducing the cost. commuting costs. this provides residents with more flexible living options while promoting urban development and living convenience.

reduce down payment costs: in addition, the shanghai municipal government has also reduced the down payment ratio of commercial personal housing loans by optimizing housing credit policies, which will bring significant economic benefits to home buyers. for first and second homes, the down payment ratio of commercial personal housing loans was reduced to 15% and 25% respectively, with the cumulative decreases being 5 percentage points and 10 percentage points respectively. this initiative will further promote demand for improved housing and improve the quality of urban life.

tax exemption policy: the adjustment of the value-added tax policy after the withdrawal of the general residence standard is also an important part. this policy aims to further support the demand for improved housing and create greater space for residents to purchase homes by reducing tax costs in the transaction process.

future outlook: in the future, the shanghai municipal government will continue to explore more policy measures to further promote the demand for improved housing, promote urban development and improve residents' living standards. this is not only to support economic growth and social development, but more importantly, to provide residents with a better living environment and unleash the potential of their improved housing needs.