Henan Xinyang officially announced the sale of existing houses, industry insiders: pre-sale reform may be implemented in a "small step slow run" manner

The Housing and Urban-Rural Development Bureau of Xinyang City issued "Several Measures to Strengthen the Management of Presale of Commercial Housing", mentioning that the principle of "distinguishing between new and old" will be implemented in the central urban area to promote the sale of existing houses. After the issuance of the document, projects that have obtained new construction permits must reach the main structure completion before applying for presale permits; after the issuance of the document, newly auctioned land will all be sold as existing houses. Guojin Securities stated that selling existing houses means delayed fund retrieval, and various supporting policies, especially financing policies, are still unclear, which will increase the financial pressure on companies in the short term; at the same time, it will raise the threshold for land acquisition by real estate enterprises, increase the difficulty of land auction, and further increase local fiscal pressure. In the short term, it may land within the framework of "adjusting policies according to local conditions" and progress slowly.