Subsidy of 100 Million Yuan, Nanjing "Trade-in Program" Stabilizes Real Estate Market! Jinan Talent Home Purchase Subsidy Up to 1 Million Yuan

On March 20, Nanjing announced new policies to stabilize the real estate market, including the following measures: individuals selling housing purchased less than two years ago will pay full VAT at a rate of 3%; the minimum down payment ratio for commercial property loans will be adjusted to no less than 30%; and “trade-in for new” can enjoy a 1% interest subsidy on the loan amount, with a total subsidy cap of 100 million yuan, available on a first-come, first-served basis.

Industry experts believe that Nanjing continues to promote “trade-in for new” and has innovatively introduced financial subsidy tools, forming a multi-party effort involving government interest subsidies, intermediary sales assistance, and enterprise concessions. These measures directly reduce homebuyers’ funding costs, help streamline the second-hand and new home exchange chain, and effectively stimulate demand for home improvement.

Additionally, Jinan recently adjusted its high-level talent home purchase subsidy policy, proposing a maximum subsidy of 1 million yuan for Category B talents.

Nanjing Releases New Policies to Stabilize the Real Estate Market

On March 20, the Nanjing Housing Security and Real Estate Bureau issued the “Policy Measures for Stabilizing the Real Estate Market.”

The policies aim to further reduce residents’ housing costs. Individuals (excluding general taxpayers among sole proprietors) selling housing purchased less than two years ago will pay full VAT at a rate of 3%. The minimum down payment ratio for commercial properties (including “commercial-residential mixed-use” properties) will be adjusted to no less than 30%, promoting the effective release of various housing demands.

At the same time, the city encourages housing consumption through “trade-in for new.” Support for intermediary agencies to carry out “help sell” services will continue, and market-based “trade old for new” activities will be encouraged. Homebuyers completing “sell old, buy new” transactions from the policy release date until December 31, 2026, will receive a subsidy of 1% of the total loan amount (regardless of whether the sale or purchase occurs first, based on online contract registration). The total subsidy fund is limited to 100 million yuan citywide, available on a first-come, first-served basis, and will be refunded after tax payment. Developers are also encouraged to offer diversified promotional discounts based on project specifics to further stimulate residents’ housing improvement needs.

Furthermore, various “housing voucher” policies will be promoted. Cross-district resettlement housing sources will be expanded, and efforts will be made to enhance publicity and guidance for cross-district housing options, better meeting the diverse resettlement needs of displaced residents while respecting their preferences and market principles. The “talent housing voucher” policy will be fully implemented to precisely match the housing and development intentions of various talents in Nanjing.

Yan Yuejin, Deputy Director of the E-House Research Institute in Shanghai, stated that to address the core obstacle in improving housing demand—“difficulty selling old houses”—the policies will continue to deepen the “trade-in for new” model and innovate with fiscal interest subsidies, forming a multi-party effort involving government subsidies, intermediary assistance, and enterprise concessions. This approach is expected to be effective, especially in reducing exchange costs: providing a 1% interest subsidy on the total loan amount for homebuyers completing “sell old, buy new” transactions within 2026, with a citywide subsidy cap of 100 million yuan. This measure directly lowers buyers’ capital costs, and the flexible “sell old and buy new” timing increases operational flexibility, helping to connect the first- and second-hand housing exchange chain. Additionally, the policy will amplify the multiplier effect by encouraging developers to offer promotional discounts, which, combined with fiscal interest subsidies, are expected to effectively stimulate improvement demand.

Jinan Adjusts High-Level Talent Home Purchase Subsidy Policy

Recently, the Jinan Housing and Urban-Rural Development Bureau issued the “Notice on Adjustments to the Jinan High-Level Talent Home Purchase Subsidy Policy.”

It states that talents classified as A, B, C, or D, recognized by the Municipal Talent Work Leadership Group Office, must meet the following conditions: employed in a company within Jinan’s administrative area; the applicant’s family (including the applicant, spouse, and children under 18) must purchase their first commercial housing in Jinan within five years of their initial talent recognition; the application must be submitted within five years of the initial recognition, and by the application date, the family must have no other housing registration or transaction records in Jinan.

Specific support policies include: for Category A talents, a “one person, one policy” approach; for Category B talents, a home purchase subsidy of 50% of the purchase amount (based on online contract registration), up to 1 million yuan; for Category C talents, a subsidy of 50% of the purchase amount, up to 700,000 yuan; for Category D talents, a subsidy of 50% of the purchase amount, up to 400,000 yuan.

Additionally, full-time doctoral and master’s graduates who meet the criteria will receive subsidies: 150,000 yuan for PhDs and 100,000 yuan for master’s graduates within five years of graduation (for “specialized, refined, and innovative” private enterprises, PhDs within five years are eligible for 250,000 yuan, and master’s for 150,000 yuan); for PhDs within 5-10 years of graduation from “specialized, refined, and innovative” private enterprises, 100,000 yuan; for master’s, 70,000 yuan. If the subsidy exceeds 25% of the actual home purchase amount, the subsidy will be issued based on 25% of the purchase price.