China Tightens Housing Sales Rules to Address Delivery Risks

China has introduced a new set of measures aimed at overhauling its housing sales system, with a clear push toward selling completed homes rather than properties still under construction. The move, announced on Friday, is designed to tackle growing concerns over project delays and delivery failures in the real estate sector.

Under the new guidelines, presale projects will now be required to have individual buildings topped out before sales can proceed. This condition is intended to ensure that construction is sufficiently advanced, reducing the likelihood of buyers being left with unfinished properties.

Local governments have also been urged to actively promote the sale of completed commercial housing units. By encouraging a shift toward ready-to-move-in homes, the authorities aim to strengthen buyer confidence and bring greater stability to the housing market.

The reforms mark a significant step in China's ongoing efforts to manage risks within its property sector, which has faced mounting pressure in recent years. The new rules are expected to reshape how developers market and sell residential projects across the country.