According to institutional data, as of now, over 50 cities across the country have expressed their support for housing "trade in", mainly including direct acquisition of affordable housing, accelerating the sale and purchase of new houses through cooperation with intermediaries, and providing deed tax subsidies to relevant homebuyers. Industry insiders believe that many of the customers who are currently listed for sale of second-hand houses have a demand for improvement in housing, and factors such as difficulty in selling houses, long cycles, and high discounts have become obstacles to housing exchanges. The implementation of the "old for new" policy can reduce the barriers for residents to change houses and promote the stable and healthy development of the real estate industry. The "old for new" housing policy has received high attention recently, with cities such as Shanghai and Shenzhen introducing policies related to "old for new" housing, which has attracted high market attention. The Shanghai Real Estate Industry Association and the Shanghai Real Estate Brokerage Industry Association jointly initiated a "trade in" campaign for commercial housing throughout the city of Shanghai. It is understood that more than 20 real estate development enterprises and nearly 10 real estate brokerage firms participated in the first batch of initiatives. The first batch of more than 30 projects participated in the initiative, mainly distributed in areas such as Jiading, Songjiang, Qingpu, Fengxian, and Lingang. It is understood that the "trade in" campaign in Shanghai is mainly aimed at residents who plan to sell second-hand houses and purchase new ones. Residents who purchase a house first reach an intention to purchase a new house with a real estate development enterprise, and then the real estate brokerage agency prioritizes the transaction of their old house. After the old house is successfully sold, the new house transaction is completed according to the agreement. Real estate development enterprises participating in the "trade in old for new" activity promise that if the old house is not successfully sold within a certain period of time, residents who purchase the house can unconditionally "check out and refund"; The real estate brokerage firm promises to promote and prioritize the sale of old houses by residents who purchase houses throughout the city. During the event, the Shanghai Real Estate Industry Association proposed that real estate development enterprises increase their discount efforts and provide corresponding discounts for "trade in" residents; The Shanghai Real Estate Brokerage Industry Association advocates real estate brokerage agencies to provide exclusive preferential services for residents who trade in old for new. Previously, the Shenzhen Real Estate Industry Association and the Shenzhen Real Estate Intermediary Association jointly issued a notice to launch a one-year event for all residents (house changers) planning to sell second-hand commercial housing (old houses) and purchase new commercial housing (new houses) in the city area. The activity process includes registration and registration, signing relevant agreements, listing and selling old houses, selecting and signing new houses, etc. The notice proposes face-to-face communication between real estate development enterprises, intermediary agencies, and homebuyers, signing agreements to clarify activity details and the rights and interests of all parties. Real estate development enterprises set a certain period of "termination protection period" (recommended not less than 90 days) for the new house that the replacement intends to purchase. If the old house is not sold, the replacement person can unconditionally terminate the agreement without bearing any breach of contract liability. The intermediary agencies participating in the activity evaluate the old houses of the house swappers, set listing prices, and promote them on major real estate websites and intermediary stores. The replacement person selects a new house from the residential projects provided by the real estate development enterprise for participation, signs a subscription contract, and locks in the intended housing source. According to monitoring data from the China Index Research Institute, as of now, over 50 cities across the country have expressed their support for the "trade in" of housing, promoting the release of replacement demand. Industry insiders predict that there will be more in 2024
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