Nanjing: Further encourage housing consumption through "trade-in for new"

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Nanjing has issued policies and measures to stabilize the real estate market. Among them, it proposes further encouraging housing consumption through “trade-in and upgrade.” Continued support for intermediary agencies to carry out “help sell” services, and encouragement for various entities to carry out market-based “trade-in and upgrade” programs. Homebuyers who complete a “sell old and buy new” transaction from the date of policy release until December 31, 2026, will be given a subsidy of 1% of the total loan amount (the timing of selling old and buying new does not matter, based on online contract registration; the total subsidy fund limit for the entire city is 100 million yuan, first-come, first-served, until funds are exhausted, with rebate after tax payment). Developers are encouraged to offer diversified promotional discounts in conjunction with project specifics to further promote the release of residents’ housing upgrade needs. (First Financial)

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