Wuhan's New Property Policy: Newly Transferred Land Projects to Prioritize Completed Housing Sales, Clear Criteria for Recognizing Presale Cap

On September 30, the Wuhan Municipal Housing and Urban Renewal Bureau, the Wuhan Municipal Natural Resources and Urban-Rural Development Bureau, and the Wuhan Municipal Local Financial Administration issued implementation opinions on implementing the "Notice on Improving the Commodity Housing Sales System." Among other things, it mentions steadily carrying out completed housing sales. Starting August 28, 2026, for commodity housing projects on newly transferred land, completed housing sales shall be prioritized. After handling the first registration of real estate, real estate development enterprises shall formulate a completed housing sales plan, file it with the municipal housing management department, and then organize sales according to the completed housing sales plan. Clarify the criteria for recognizing topping-out in presale projects. For commodity housing projects on land transferred after August 28 that adopt presale, the main structure of the individual building shall have completed the concrete pouring of the roof structural layer. After on-site verification by the housing management department of the district where the project is located and confirmation that the topping-out engineering image progress has been reached, the project may apply for a presale permit. These implementation opinions shall take effect from the date of issuance. The full text is as follows: Implementation Opinions on Implementing the "Notice on Improving the Commodity Housing Sales System" To all relevant units: In order to implement the relevant requirements of the "Notice of the Ministry of Housing and Urban-Rural Development, the Ministry of Natural Resources, and the National Financial Regulatory Administration on Improving the Commodity Housing Sales System" (Jian Fang Gui [2026] No. 3), accelerate the construction of a new model for real estate development, steadily advance the reform of the commodity housing sales system, and promote the high-quality development of our city's real estate market, the following implementation opinions are proposed in light of our city's actual conditions. I. Improve the presale management of commodity housing (1) Clarify the scope of application of existing presale policies. For commodity housing projects that had obtained (including partially obtained) a construction project planning permit before August 28, 2026 (inclusive) and adopt presale, presale conditions, presale fund supervision, and other matters shall be implemented according to the original policy provisions. For commodity housing projects that had obtained a construction project planning permit before August 28, 2026 (inclusive) and whose construction project planning permit is changed after August 28, and that adopt presale, presale conditions, presale fund supervision, and other matters shall be implemented according to the original policy provisions. For commodity housing projects that have been included in the provincial or municipal intelligent construction pilot project list before December 31, 2026 (inclusive), or that are recognized as prefabricated buildings in accordance with the "Wuhan Municipal Implementation Measures for the Construction Management of Prefabricated Buildings," and that obtain a construction project planning permit and a construction project construction permit before the end of 2026, presale conditions, presale fund supervision, and other matters shall be implemented according to the original policy provisions. For commodity housing projects that had obtained state-owned construction land use rights before August 28, 2026 (inclusive) (including those that have signed land transfer contracts) but have not obtained a construction project planning permit, presale management shall in principle be implemented as for newly transferred land projects; if, after risk assessment by the district people's government, it is ensured that construction and delivery can be completed on schedule, and under the condition of strengthened presale fund supervision, after filing with the municipal housing management department, they may apply for presale according to the original presale conditions before the end of 2027. For real estate projects with historical legacy issues that had obtained state-owned construction land use rights before August 28, 2026 (inclusive), and for commodity housing projects that re-sign land transfer contracts after August 28 through stock revitalization and utilization, presale management shall in principle be implemented as for newly transferred land projects; if, after risk assessment by the district people's government, it is ensured that construction and delivery can be completed on schedule, and under the condition of strengthened presale fund supervision, after filing with the municipal housing management department, they may apply for presale according to the original presale conditions before the end of 2028. (2) Clarify the criteria for recognizing topping-out in presale projects. For commodity housing projects on land transferred after August 28, 2026 that adopt presale, the main structure of the individual building shall have completed the concrete pouring of the roof structural layer. After on-site verification by the housing management department of the district where the project is located and confirmation that the topping-out engineering image progress has been reached, the project may apply for a presale permit. (3) Optimize the use of guarantee letters to replace supervised funds. Commercial banks and real estate development enterprises are encouraged, in light of the actual project conditions and under the premise of strictly maintaining closed fund management and ensuring on-schedule project delivery, to carry out presale fund supervision guarantee letter replacement. For commodity housing projects that comply with the original presale conditions, presale fund supervision, and other policy provisions, real estate development enterprises may apply to eligible commercial banks for guarantee letters to replace funds within the supervised quota. Commercial banks shall make independent decisions after fully assessing risks in accordance with market-oriented and law-based principles. The replacement amount shall not exceed 30% of the amount of funds in the supervised account required to ensure project completion and delivery, and the supervised funds after replacement shall not be lower than 70% of that amount. For commodity housing projects that implement presale management as newly transferred land projects, the guarantee letter replacement policy shall be formulated separately. (4) Strengthen presale fund supervision. For commodity housing projects that implement presale management as newly transferred land projects, the Municipal Real Estate Transaction Center shall, as the housing fund supervision institution, sign a fund supervision agreement with the real estate development enterprise and open a fund supervision account at the project's main bank. The down payment, personal housing loans, and other housing purchase funds paid by homebuyers shall all be deposited into the fund supervision account. After the commodity housing project passes completion acceptance and supporting facilities such as water, electricity, gas, and heating are ready for delivery, fund supervision shall be lifted. II. Orderly promote completed housing sales of commodity housing (5) Steadily carry out completed housing sales. Starting August 28, 2026, for commodity housing projects on newly transferred land, completed housing sales shall be prioritized. After handling the first registration of real estate, real estate development enterprises shall formulate a completed housing sales plan, file it with the municipal housing management department, and then organize sales according to the completed housing sales plan. (6) Standardize deposit sales conduct for completed housing. For commodity housing projects implementing completed housing sales, after obtaining a construction project construction permit, real estate development enterprises shall formulate a deposit sales plan and file it with the municipal housing management department, and the Municipal Real Estate Transaction Center shall simultaneously open a deposit supervision account at the project's main bank. The deposit sales plan shall state the project's basic information, sales price, deposit collection standards, rights and obligations, and handling of liability for breach of contract. When carrying out deposit sales for completed housing, real estate development enterprises shall publicly display at the sales site or on an internet platform the "Business License," "Real Estate Development Enterprise Qualification Certificate," "Construction Land Planning Permit," "Construction Project Planning Permit," "Construction Project Construction Permit," "Deposit Sales Plan," "Housing Purchase Deposit Contract (Model Text)," and sales personnel information. The "Housing Purchase Deposit Contract (Model Text)" shall be formulated under the leadership of the municipal housing management department. (7) Strengthen supervision of completed housing deposit transactions. Real estate development enterprises shall sign housing purchase deposit contracts with homebuyers through the commodity housing contract online signing and filing system and promptly handle contract filing procedures. The deposit shall in principle not exceed 5% of the total housing purchase price. Homebuyers shall deposit the deposit directly into the deposit supervision account. During the supervision period, the deposit shall not be used, and deposit supervision shall be lifted after the house meets completion and delivery conditions. (8) Improve mortgage cancellation for completed housing sales. For commodity housing projects implementing completed housing sales, the houses sold and the construction land use rights shall be free of mortgages, seizures, and other circumstances restricting transaction. If, as agreed between the real estate development enterprise and the mortgagee, the sale of mortgaged houses is consented to, the mortgagee's written consent to sale shall be submitted when handling the completed housing sales filing certificate. When signing a housing purchase contract with a homebuyer, the real estate development enterprise shall specify in the contract the mortgage status of the house and the committed time limit for mortgage cancellation, and shall immediately complete contract filing procedures after canceling the mortgage on the house and the construction land use rights. III. Optimize land supply management (9) Optimize the proportion and time limit for payment of land transfer price. For land transferred after August 28, 2026, apart from the bidding deposit, the remaining land transfer price may be paid in installments during the construction period as agreed in the contract. The payment proportion within six months shall not be less than 50% of the land transfer price, and the balance may be extended to be paid in full within one year after the signing of the transfer contract. After decision-making according to procedures, it may be paid in full within a maximum of two years. IV. Carry out project completion filing by category (10) Support projects in completing filing in batches by the smallest unit. Before construction starts on a commodity housing project, the real estate development enterprise shall, when applying for the planning scheme, draft a phased and zoned development plan. The municipal natural resources management department, together with the housing management department, shall guide the reasonable designation of the smallest unit, and the project may organize completion acceptance filing sequentially according to the designated smallest unit. Delivery may proceed only after water, electricity, gas, heating, and municipal supporting facilities are complete. (11) Implement phased completion filing. Optimize the completion filing process for commodity housing projects. With the building floor at 0 as the boundary, where conditions permit, completion filing may be implemented in two phases: underground and aboveground. Optimize completion filing management for fully decorated commodity housing projects, and completion filing procedures may be handled according to two construction phases: rough construction and interior decoration. V. Increase financing coordination and support (12) Give play to the role of the financing coordination mechanism. For presale commodity housing projects that had signed development loan contracts before August 28, 2026 (inclusive), in accordance with market-oriented and law-based principles, after full consultation between the main bank and the real estate development enterprise, reasonable financing needs of the project may be met through new financing, extension, or adjustment of repayment plans, thereby alleviating pressure on project construction funds and matching development loan disbursement with the project construction cycle. (13) Carry out pilot collective mortgage establishment on divided land use rights. If a real estate project development company applies for a development loan using land use rights as mortgage, it shall establish mortgage collectively on divided land use rights, and specific measures shall be formulated separately. VI. Improve government service efficiency (14) Implement "start construction upon land acquisition." If a real estate development enterprise signs a land transfer contract and obtains the parcel's real estate pre-notification registration certificate, it may first handle procedures such as construction project planning permission, construction project construction permission, real estate surveying and mapping, and the building schedule. For projects that pay the land transfer price on time as agreed in the land transfer contract, the corresponding portion may apply for presale permission procedures. If a real estate development enterprise applies for a commodity housing development loan to ensure project commencement and construction, under the premise that the main bank, together with the Municipal Real Estate Transaction Center, conducts closed management of project funds, it may handle pre-notification registration of the parcel's real estate mortgage right, and specific measures shall be formulated separately. (15) Implement "certificate delivery upon housing delivery." Before completed housing sales, first registration of real estate shall be handled. Promote the integrated handling of online signing and filing of commodity housing sales contracts and real estate pre-notification registration, optimize processes such as tax and fee payment, real estate registration, and mortgage loan handling, strengthen work coordination, and promote homebuyers obtaining real estate ownership certificates simultaneously at the time of commodity housing delivery. (16) Simplify commodity housing sales approval. Promote simultaneous application and parallel handling of sales plans and presale permission (completed sale filing) approval, and implement immediate submission and immediate approval for projects meeting statutory conditions. Promote the notification and commitment system and further streamline application materials. Continue to deepen the "one matter" reform for new home purchases, promote integrated and joint handling of business, and enhance the convenience for real estate development enterprises and the public. VII. Strengthen real estate market supervision (17) Continue to standardize market order. Improve the mechanism for public release of real estate market information, strengthen departmental coordination and linkage, seriously investigate and punish various illegal and non-compliant acts in the real estate sector in accordance with the law, and maintain good order in the real estate market. (18) Improve whole-process construction management. Consolidate the main responsibilities of all parties, do a good job in whole-process control of commodity housing projects from planning and design to completion and delivery, strengthen quality and safety supervision and management at construction sites, and coordinate the advancement of "good housing" construction. These implementation opinions shall take effect from the date of issuance. Wuhan Municipal Housing and Urban Renewal Bureau Wuhan Municipal Natural Resources and Urban-Rural Development Bureau Wuhan Municipal Local Financial Administration September 30, 2026 This article is excerpted from the Wuhan Municipal Housing and Urban Renewal Bureau; edited by GMTEight: Chen Siyu.