Nanjing has for the first time incorporated the "sale of existing homes with outstanding mortgages" into official documents.
More than two months after the "August 28" new policy was issued, detailed implementation rules at the local level have been rolled out intensively. Beijing released its local version of implementation rules on September 24, followed by cities including Shanghai, Guangzhou and Shenzhen one after another.
On October 31, five departments including the Nanjing Municipal Bureau of Housing Security and Real Estate jointly issued the Implementation Opinions on Implementing the "Notice on Improving the Commercial Housing Sales System" (Trial), making Nanjing one of the latest cities to release relevant detailed rules.
The Implementation Opinions put forward 19 policies from 9 aspects, including strengthening the presale management of commercial housing, promoting the spot housing sale of commercial housing, implementing the project company system, implementing the host bank system, and optimizing land supply and planning management, which shall take effect as of the date of release.
Source: Official
The implementation opinion takes August 28, 2026 as the cutoff point, and implements separate management for old and new projects for commercial housing projects:
For projects whose land has been transferred and construction project planning permit has been obtained (partially obtained included) on or before August 28, 2026, if presale is implemented, they shall be executed in accordance with the original presale conditions and presale fund supervision policies.
For projects whose land has been transferred but construction project planning permit has not been obtained on or before August 28, 2026, they shall in principle be managed in accordance with the requirements of new presale projects. If the district government ensures that the project can be constructed and delivered on time, after being submitted to the municipal real estate financing coordination mechanism for research and confirmation, the presale can be applied for in accordance with the original presale conditions before the end of 2027, and meanwhile, presale fund supervision shall be strengthened in accordance with the requirements of new presale projects.
For projects with new transfer announcements released after August 28, 2026, if presale is implemented, the presale permit can be applied for at the minimum by building, and the single building must complete the main structure capping and submit the project image progress acceptance materials. All house purchase funds shall be deposited into the supervision account, and the supervision shall be lifted after the project completes the final acceptance and meets the delivery conditions.
For projects that obtain the presale permit after August 28, 2026, individual housing loans shall be issued after the completion filing, and the loan funds shall enter the supervision account in the form of entrusted payment.
In addition to implementing the national requirements, the Implementation Opinions put forward 3 characteristic practices in combination with the actual situation of Nanjing.
The first is to implement the spot housing sale with mortgage mode. For eligible commercial housing projects where the mortgage right has not been lifted before sale, real estate development enterprises do not need to lift the land mortgage or construction in progress mortgage in advance. After reaching consensus through consultation among the real estate development enterprise, the original mortgage bank and the house buyer, they can apply for sale with mortgage. The spot housing sales funds shall be deposited into the fund supervision account for commercial housing sales.
According to the policy Q&A released by the Fangbangning Platform (comprehensive service platform built by Nanjing Municipal Bureau of Housing Security and Real Estate), the fund supervision institution shall use the supervised spot housing sales funds to repay the loan of the original mortgage bank first, then lift the land mortgage or construction in progress mortgage; this arrangement aims to ease the capital turnover pressure of development enterprises on the premise of protecting the rights and interests of house buyers and the security of bank creditor's rights.
The second is to implement the pre-review mechanism for planning schemes. During the period of the pre-announcement of land transfer and the official listing announcement, registered enterprises can carry out scheme design in advance, and relevant departments will jointly carry out pre-review of the planning and design scheme. After the transaction is completed, for projects that have passed the pre-review and no longer need modification, the verification opinion of the planning and design scheme and the construction project planning permit can be directly applied for with the transaction confirmation.
The third is to deepen the reform of the engineering approval system. Comprehensive use of convenient measures such as acceptance with missing materials, notification and commitment, and parallel pre-examination to shorten the approval cycle.
In addition, in terms of land supply and planning management, Nanjing implements advance notice registration of mortgage for state-owned construction land use rights, promotes the collective handling of development loan mortgage registration by household land use rights, regularly carries out "delivery of house with delivery of property right certificate", promotes "transfer with existing mortgage", and strengthens city-wide universal handling and assistant guidance services.