经济新闻
上海推出新措施提振房地产市场 2026-02-25
Shanghai authorities have announced seven new comprehensive measures that aim to lower the thresholds for homebuyers and ensure the local housing market remains steady and healthy through 2026.
The most significant shift focuses on making it easier for non-locals to settle down. The mandatory social security contribution period for non-Shanghai residents to buy property in the city center has been slashed from three years to just one year.
The new measures now recognize five-year residence permits as a valid qualification for homeownership, even for those whose social security payments might have been interrupted. This is a game-changer for essential city workers and professionals at regional headquarters who were previously locked out of the market.
Key financial updates include higher loan ceilings, support for large families, and tax breaks.
The maximum Provident Fund loan, a low-interest housing fund, has been raised from 1.6 million yuan (US$221,000) to 2.4 million yuan for first home purchases, and families with multiple children can now enjoy a 20 percent increase in their loan limits when buying a second home.
The city has also refined property tax rules to exempt families from certain taxes when they sell their old apartment to buy a new one, provided it remains their only residence.
Residents from Hong Kong, Macau, and Taiwan, as well as foreign nationals, are eligible to purchase one residential property, provided they have paid individual income tax or social security for at least 12 months within a 15-month period in the city.
Data from the National Bureau of Statistics highlights the unique resilience of the local market in 2025. New home prices in Shanghai rose 5.7 percent year over year, leading all first-tier cities in the US.
However, the pre-owned market experienced a period of stability. While secondary market prices dropped 2.4 percent over the year, the decline has begun to narrow after eight consecutive months of slight dips starting in May. This stabilization, combined with a surge in buyer interest, pushed the total transaction volume to a four-year high of 254,000 units in 2025.
Market analysts believe the new measures are about more than just individual sales; they are about "unclogging" the entire system.
The policy causes a domino effect by making first-time buyers' entry easier. A new family buying a starter home (often a pre-owned apartment) gives the seller the cash and incentive to upgrade to a larger, newer property. This "replacement chain" should clear inventory and revitalize pre-owned and new-build markets.
The timing is no coincidence. As the "spring sprints" – a traditionally busy season for real estate – approaches, Shanghai is looking to capitalize on a market that is already showing signs of stabilization.
By incorporating these new regulations into the already existing incentives, Shanghai is demonstrating its openness, accessibility, and commitment to assisting its residents in securing a permanent residence. This combined strategy aims to balance supply and demand while fostering a more resilient and "virtuous cycle" for the city's economy.
Source: City News Service
