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Wuhan to Issue Housing Vouchers to Qualified Buyers

In a notice issued on July 28, the Wuhan Housing Management Bureau proposed to issue housing vouchers to curb the overheated housing market. The proposal suggested that people must present their housing voucher before they can buy a house and each voucher is valid for 60 days. People who got the housing voucher illegally will be ineligible to buy a house for one year. Their name will also be added to the dishonest housing buyer blacklist. According to real estate insiders, in the past, buyers could register to buy regardless of whether they were qualified. This has resulted in an overstated market demand and disturbed the market order.

Since 2021, there have been over 320 policies introduced to curb the overheated housing market. There were 46 new polices from the central administration, compared to 30 in the same period in 2020.

On July 23, China’s Ministry of Housing and Urban-Rural Development and another eight departments issued the “Notice on Continued Rectification and Standardization of the Real Estate Market Order.” This further increased the industry’s expectations for strict and tight regulation of the housing market in the second half of the year. Subsequently, many places including Shanghai, Shaoxing, Zhejiang and Hangzhou issued new measures on regulating the real estate market.

Source: Central News Agency, July 30, 2021