China News Service, Chengdu, October 26 (Reporter Liu Zhongjun) Chengdu’s commercial housing sales system will undergo systematic adjustments on the 26th. The Chengdu Municipal Housing and Urban-Rural Development Bureau, the Chengdu Municipal Planning and Natural Resources Bureau, and the Sichuan Supervision Bureau of the State Financial Supervision and Administration Bureau jointly issued implementation opinions on the implementation of the "Notice on Improving the Commercial Housing Sales System." It has been clarified that the pre-sale threshold for commercial housing has been raised, house purchase funds have been strictly controlled, and sales of existing houses have been gradually promoted.
New land plot: pre-sale only after capping
August 28, 2026 (inclusive) is a dividing line. After that, for commercial housing projects that have newly announced transfer announcements and apply for pre-sale, the main structure of the single building must be capped. The standard is that the top roof slab is poured.
Sales of existing houses must also be carried out in an orderly manner for newly transferred land parcels. If the land transfer announcement states that existing houses will be sold, the announcement shall be followed; if it is not stated, the developer may make its own decision based on market conditions. If you really want to sell an existing house, the premise is that the first registration of the house has been completed, and the sales plan, real estate certificate and other materials have been submitted to the housing and construction department for record. There should be no mortgage or seizure on the house and land to restrict transactions.
Old projects: transition in three stages
For projects that have obtained a construction engineering planning permit before August 28, 2026 (inclusive), pre-sale conditions and fund supervision will follow the old method. If the land has been acquired, or even announced but the planning certificate has not yet been obtained, in principle, the new regulations will be implemented; if the district (city) and county governments have assessed the risks and confirmed that the project can be completed and delivered on time, after strengthening fund supervision and reporting to the municipal housing construction, planning and natural resources department for filing, you can still apply for pre-sale under the old conditions before December 31, 2027, but the supervision quota must cover all remaining project costs to ensure completion and water and electricity supporting facilities are in place. As for the historical legacy projects that have not been developed beyond the deadline and have been suspended or delayed in construction, the revitalization will be collectively studied by the districts (cities) and counties. After being registered before December 31, 2028, they will be implemented according to the original pre-sale conditions.
House purchase money: All money goes into the escrow account
The down payment and personal housing loan paid by the home buyer must be directly deposited into the project pre-sale fund supervision account, and cannot be transferred to the developer's own account. The "5+1" areas (Jinjiang, Qingyang, Jinniu, Wuhou, Chenghua and Chengdu High-tech Zone) are supervised by the Chengdu Housing Property Rights Trading Center. Tianfu New District, Eastern New District and other districts (cities) and counties are determined by territorial agencies, and can also be entrusted to the Chengdu city center for processing. Supervision can only be released after the project has completed the completion acceptance and registration and the delivery and registration of ancillary facilities. At the same time, a fund will be reserved to cover the handover and first registration.
There is also a deposit system for existing home sales. The developer must submit a written report to the housing and construction department before applying for a construction permit. Afterwards, the developer can sign a deposit contract with the home buyer. The deposit shall not exceed 5% of the total price of the house. The entire process is under closed management. No party can use it until the house meets the delivery conditions. If the developer defaults and fails to deliver the house, the buyer has the right to terminate the contract as stipulated in the contract. The Chengdu Municipal Housing and Urban-Rural Development Bureau will issue a unified contract template, clearly stating the amount, housing source, selling price, delivery time and liability for breach of contract.
Land purchase and financing: own funds to acquire land for one project and one sponsoring bank
For commercial residential land listed for sale after August 28, 2026, developers must use their own funds to purchase the land: no less than 50% of the total price must be paid within 30 natural days after the signing of the transfer contract, and the remaining balance must be paid within 2 years, without interest in installments.
Real estate projects implement the sponsoring bank system. A single project corresponds to a sponsoring bank, and development loans, self-owned funds, and sales receivables are all entered into the account of this bank for closed operation; if a development loan is issued individually, the lending bank will be the sponsoring bank; if a syndicate is formed, the lead bank of the syndicated loan will be the sponsoring bank. The loan is issued in batches according to the progress of the project and is entrusted to be paid to the construction party and suppliers, all of which are used for project construction.
Construction link: Strict quality and safety, relaxed development progress
Construction implements a project company system, and information such as land acquisition, naming, loans, progress, etc. must be filled in in a timely manner through an electronic manual. Safety production and civilized construction costs must be separately listed and paid in full, and the reasonable construction period must not be compressed at will. Key processes such as concrete pouring must not cut corners. The acceptance of materials on site, witness sampling, and household acceptance must be strengthened.
The measures to relax are also clear: phased development, phased construction permit application, and phased acceptance are all supported. Renovated houses can be completed and recorded separately in two stages: rough and interior decoration. The first registration of real estate and the completion acceptance record shall be applied for and approved in parallel to strive for "certificate upon completion".
In addition, anyone who collects pre-sale funds and deposits through non-supervised accounts will be severely investigated and punished. This opinion does not apply to affordable housing, and relevant details will be formulated separately. This opinion shall be implemented from the date of issuance. If previous documents are inconsistent with it, this opinion shall prevail.
