Guangxi’s finance allocated 297 million yuan to support real estate to promote consumption

China News Service, Nanning, October 16 (Wei Jiaxiu) The Finance Department of the Guangxi Zhuang Autonomous Region recently announced that it has allocated 297 million yuan in real estate consumption promotion funds, focusing on consumption subsidies such as new housing purchases and rentals, increasing support for the digestion of existing commercial housing, actively expanding housing consumption scenarios, and injecting new momentum into the stable and healthy development of the Guangxi real estate market.

Specifically, Guangxi provides subsidies to buyers who purchase newly built commercial housing in the region. A subsidy of 10,000 yuan will be given to each unit if the total value of the commercial housing sales contract is more than 250,000 yuan, and a subsidy of 8,000 yuan will be given to each unit if the total value of the commercial housing sales contract is equal to or less than 250,000 yuan. Superimposed subsidies will be given to "sell old and buy new", new citizens, graduates of full-time ordinary colleges and universities after leaving school, flexible employment personnel who participate in the housing provident fund, veterans and other groups, as well as first marriages, first births, and families with multiple children. Subsidies will be provided to purchasers of new commercial parking spaces and new commercial and office buildings to promote destocking of non-residential commercial buildings.

At the same time, housing rental subsidies will be implemented to expand housing security channels. Housing rental subsidies will be provided to full-time college graduates with a junior college degree or above within 2 years of graduation who rent new affordable rental housing in Guangxi and sign a housing rental contract. Superimposed subsidies will be provided to groups such as retired military personnel, grassroots project personnel or high-level talents, as well as families with first marriages, first children, and multiple children, to effectively reduce the housing consumption costs of new citizens, young people and other groups.

In the next step, the Guangxi Department of Finance will actively work with the Autonomous Region Department of Housing and Urban-Rural Development to distribute subsidy funds, strengthen fund supervision, continue to promote the implementation of real estate consumption-promoting policies, better meet people's rigid and improved housing needs, and help Guangxi's stable economic growth and the stable and healthy development of the real estate market.