The detailed rules for the sale of existing homes in Hangzhou have been officially implemented, and the deposit shall not exceed 5% of the total purchase price of commercial housing.
On October 15, the Hangzhou Municipal Bureau of Housing Security and Real Estate Management, the Municipal Bureau of Planning and Natural Resources, the Municipal Commission of Construction, and the Zhejiang Provincial Financial Regulatory Administration jointly issued the Implementation Opinions on the Reform of the Commercial Housing Sales System (Trial), which shall take effect as of the date of release. The commercial housing sales system will be improved from the aspects of strengthening the pre-sale management of commercial housing, promoting the sale of existing commercial housing in an orderly manner, implementing the host bank system, increasing financial support, optimizing land supply management, supporting phased project development, and implementing phased completion filing.
The Implementation Opinions clarifies the time node for dividing new and old policies for commercial housing projects. For commercial housing projects that have obtained the Construction Project Planning Permit on or before August 28, 2026, if pre-sale is implemented, the pre-sale conditions, pre-sale fund supervision and other matters shall still be implemented in accordance with the original provisions. For commercial housing projects that have obtained the right to use state-owned construction land (including those being transferred) but have not obtained the Construction Project Planning Permit on or before August 28, 2026, the pre-sale management shall be implemented in principle in accordance with the newly acquired land projects. If the people's government of the district, county (city) where the project is located assesses the risk and confirms that the project can be completed and delivered on schedule, under the condition of strengthening the supervision of pre-sale funds, after reporting to the municipal real estate administrative department for the record, the pre-sale application can be submitted in accordance with the original pre-sale conditions before the end of 2027. For commercial housing projects for which the transfer announcement of the right to use state-owned construction land is released after August 28, 2026, if pre-sale is implemented, the main structure of a single building shall be fully capped, and the pre-sale fund supervision shall be implemented in accordance with the newly acquired land projects. For real estate projects with historical legacy issues that have obtained the right to use state-owned construction land on or before August 28, 2026, if the people's government of the district, county (city) where the project is located assesses the risk and confirms that the project can be completed and delivered on schedule, under the condition of strengthening the supervision of pre-sale funds, after reporting to the municipal real estate administrative department for the record, the pre-sale application can be submitted in accordance with the original pre-sale conditions before the end of 2028.
The Implementation Opinions requires strengthening the supervision of pre-sale funds for commercial housing. The real estate administrative departments at the municipal and district levels shall perform the duties of supervising pre-sale funds for commercial housing, and undertake the specific work of supervising pre-sale funds for commercial housing within their respective jurisdictions. For commercial housing projects for which the transfer announcement of the right to use state-owned construction land is released after August 28, 2026, if pre-sale is implemented, all housing purchase funds paid by home buyers, including deposits, down payments, individual housing loans, phased or one-time housing purchase payments, shall be fully deposited into the fund supervision account opened by the subordinate institution of the real estate administrative department. The fund supervision shall be lifted after the commercial housing project is completed and accepted, and supporting facilities such as water, electricity and gas meet the delivery conditions.
The Implementation Opinions clearly promotes the sale of existing commercial housing. For commercial housing projects that have obtained the right to use state-owned construction land on or before August 28, 2026, if existing housing sales are implemented, the existing housing sales filing shall still be implemented in accordance with the project completion filing node. For commercial housing projects that obtain the right to use state-owned construction land after August 28, 2026, if existing housing sales are implemented, the real estate development enterprise shall, in accordance with relevant requirements, complete the project completion filing and meet the delivery conditions, then submit the existing housing sales plan and relevant certificates meeting the delivery conditions to the real estate administrative departments at the municipal and district levels for the record. Real estate development enterprises are encouraged to apply for existing housing sales after completing the initial registration of the houses. For projects applying for existing housing sales after completing the initial registration of the houses, the real estate registration certificate shall be provided. Real estate development enterprises shall conduct sales in accordance with the existing housing sales plan, and the sold houses and the right to use construction land shall not have restrictions on transactions such as mortgage or seizure. If the real estate development enterprise and the mortgagee agree to sell the mortgaged house through negotiation, the certification document of the mortgagee's consent to the sale shall be submitted when applying for the existing housing sales filing certificate. Real estate development enterprises shall publicize the mortgage status of the houses, and clearly specify the mortgage status of the houses and promise the mortgage cancellation period when signing the relevant subscription agreement with the home buyers. The contract filing procedures can be completed only after the mortgages on the houses and the right to use construction land are cancelled.
The Implementation Opinions clearly implements the deposit system for existing housing sales. For commercial housing projects with existing housing sales, after obtaining the Construction Permit for Construction Works, the real estate development enterprise shall formulate a deposit sales plan and submit it to the real estate administrative department for the record before signing the housing purchase deposit contract with the home buyer, and the deposit amount shall not exceed 5% of the total price of the commercial housing. All deposits paid by home buyers shall be deposited into the fund supervision account. The deposit supervision shall be lifted after the houses meet the delivery conditions. The unified model text of the commercial housing purchase deposit contract is promoted to strengthen the management of deposit contracts. The detailed rules for the management of deposit contracts and deposit supervision shall be formulated separately.
The Implementation Opinions clearly implements the host bank system. For commercial housing projects that sign the development loan contract after August 28, 2026, if the loan bank provides the development loan alone, the loan bank shall be the host bank; if the loan bank forms a syndicate to provide the loan, the lead bank of the syndicated loan shall be the host bank. The development enterprise shall open a fund account in the host bank. During the existence of the project, all project-related funds including development loans, project own funds, and existing housing sales funds shall be included in the fund account opened in the host bank for management. The subordinate institution of the real estate administrative department shall open a fund supervision account in the host bank for storing the supervised project pre-sale funds and existing housing sales deposits.
The Implementation Opinions requires standardizing the issuance of individual mortgage loans. For commercial housing projects that obtain the pre-sale permit after August 28, 2026, individual housing mortgage loans (including provident fund loans) can be issued only after the completion filing is completed, and the loan funds shall be paid to the pre-sale fund supervision account through entrusted payment.
The Implementation Opinions requires reasonably determining the term of development loans. Loan banks shall reasonably determine the release nodes and release amounts according to the project construction progress, issue development loans in batches, and the loan funds shall be paid through the fund account opened in the host bank to the account of the counterparty of the project company via entrusted payment, and all funds shall be used for project construction. For projects implementing existing housing sales and pre-sales, the reasonable financing needs of the projects shall be met in accordance with the market-oriented principle, so that the issuance of development loans matches the project construction cycle. For commercial housing projects that have signed development loan contracts on or before August 28, 2026 and obtained pre-sale permits after August 28, 2026, loan banks are supported to reasonably extend the loan term according to the project construction cycle, and adjust the repayment plan by comprehensively considering factors such as sales methods and repayment sources.
The Implementation Opinions clearly optimizes the payment period of land transfer funds. For commercial residential land for which the transfer announcement is released after August 28, 2026, the transfer price can be paid in installments in accordance with national regulations. The down payment shall be paid within 30 natural days from the date of signing the transfer contract, with the payment ratio not less than 50% of the total price, and the remaining balance can be extended to be paid off within 2 years after the signing of the transfer contract without interest.
The Implementation Opinions proposes to explore and carry out the collective handling of development loan mortgage registration by household-based land use rights. If the real estate project development company applies for a development loan with the mortgage of land use right, it shall set the use rights of state-owned construction land by unit, compile the real estate unit code, and handle the mortgage registration.
The Implementation Opinions clearly supports phased project development. For commercial residential land for which the transfer announcement is released after August 28, 2026, phased handling of Construction Project Planning Permit, Construction Permit for Construction Works, Commercial Housing Pre-sale Permit and Completion Acceptance Filing is supported. When applying for the project planning scheme, the real estate development enterprise shall clarify the phased development plan, development scope, construction scale and supporting facilities, and complete the project filing. For phased development, priority shall be given to the construction of infrastructure and public service facilities to meet the access conditions of municipal public service facilities such as roads, water supply, power supply, gas, communication and fire protection, so as to ensure that the phased project has complete use functions after delivery. For projects implementing phased development, after obtaining the Construction Project Planning Permit, the pre-compiled real estate registration unit number can be used to handle the pre-real estate registration certificate, and the pre-registration certificate can be used to handle the sales procedures of commercial housing for the part where the land transfer fund has been fully paid in phases and by buildings.
The Implementation Opinions proposes to implement phased completion filing. Optimize the completion filing management of fully-furnished commercial housing projects, and the completion filing procedures can be handled in two construction phases: rough housing and interior decoration.
This article is from the WeChat Official Account "Hangzhou Housing Security and Real Estate Management", and is authorized for release by 36Kr.