AsianFin – More than 80 cities across China have announced support for state-owned platform enterprises and other entities to acquire unsold commercial housing, according to the latest statistics. These properties are intended to be used for purposes such as affordable housing, resettlement housing, talent housing, and transitional housing. Among them, at least 36 cities have already issued public notices inviting housing stock submissions.

Chen Wenjing, Director of Market Research at the China Index Academy, noted that the acquisition of unsold new homes by state-owned enterprises will have multiple impacts on the real estate market. Firstly, it will accelerate the supply of affordable housing, better meeting the housing needs of wage earners and promoting a more rational allocation of housing resources. Secondly, it will help reduce market inventory, alleviate financial pressures on developers, and have a direct effect on de-stocking efforts.