Jinan: college and above paid 3 months of social security can buy a house in the restricted area

August 26, in order to further support the rigid and improved housing demand, Jinan, Shandong Province, to further optimize the non-Jinan households to purchase housing conditions.

According to local media reports, Jinan City, Shandong Province, will be "non-city households need to pay personal income tax or social insurance in the city for the past two years for one consecutive year, university degree or more buyers, pay social security for three months to buy a house", adjusted to "non-city households in the restricted area of purchase Purchase of housing, need to meet the conditions in the city to pay personal income tax or social insurance for a total of 6 months; college (higher vocational) and above, need to pay social security for a total of 3 months to purchase housing", since August 29th implementation.

Previously, on August 17, Jinan was the first in the country to launch an innovative new model of registration for second-hand houses, which is intended to stimulate the vitality of the second-hand house market. And in May, Jinan City, in succession, canceled Changqing, Zhangqiu purchase restrictions, relax the conditions of sale restrictions, upward adjustment of the amount of provident fund loans.

Guo Xiaofeng, head of research at the Qingdao branch of the China Index Research Institute, said both supply and demand in the Jinan market are weak and prices are under pressure. In the property market's traditional "Golden Nine and Silver Ten" is coming, Jinan intensively released new housing, second-hand housing positive policy signals, which will help Jinan's market expectations and enhance the activity.

According to data from the China Index Research Institute, from January to July this year, Jinan's supply of commercial housing fell 36 percent year-on-year, and the scale of transactions fell 39 percent year-on-year. Prices of new residential units in Jinan have declined for four consecutive months since 2022, with a 0.07% year-on-year decline in July.