Hangzhou and Shenzhen Flesh Out Rules for Housing Sales Overhaul

Hangzhou and Shenzhen issued rules this week implementing China’s housing sales reform, bringing the number of cities with local measures to seven. Differences in mortgage requirements for completed homes could affect developers’ financing needs and the pace of new-home supply after 2027.

The central government launched the reform on Aug. 28, promoting a shift from selling homes before construction is finished to selling completed homes. Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Tianjin and Hangzhou have since issued local rules.