China's top housing authority has noted "overall positive changes" in the real estate market, as homebuyer confidence was revived by a series of beneficial measures announced by major Chinese cities since September to boost the country's property markets.
The Ministry of Housing and Urban-Rural Development said most cities have seen a rise in visits to property projects by over 50 percent from a year ago.
Thanks to new policy adjustments on Sept 30, both transaction volume and inquiries for second-hand homes in Beijing increased notably during the week-long National Day holiday, which runs from Oct 1 to 7.
"On Oct 1, four orders were signed at our store and on Oct 2, one order was signed, bringing the total number to five. This marks a historical peak in our transaction records," said Liu Qiujing, a house agent at Huilongguan sub-branch of Lianjia Real Estate Brokerage in Beijing.
She also reported that property viewings at her store stood at 39 groups during the holiday, an increase of 15 groups over the previous week.
According to a circular jointly issued by six municipal departments on Sept 30, non-Beijing residents are allowed to purchase homes inside the city's fifth ring road if they have a record of paying social insurance or individual income tax in the city for at least three years - down from five years as was previously required.
The new policies which took effect on Oct 1 also lift the housing purchase restrictions in Tongzhou District, where the Beijing Municipal Administrative Center is located, to allow the district's homebuying rules to comply with the city's unified property market policy.
Under the new rules, homebuyers face less financial pressure, as the minimum down payment ratio for individual commercial mortgages are reduced from 20 percent to 15 percent for first-home purchases, and from 30 percent to 20 percent for second homes.
"Following the introduction of the new regulations, buyers have shown a stronger willingness to purchase properties, acquiring them more swiftly. Clients with rigid demand for residential housing are swiftly entering the market. From the perspective of homebuyers, their confidence has significantly increased," said Liu.
Between Oct 1 and noon of Oct 3, on-site inquiries for second-hand homes in Beijing jumped by 104.1 percent year on year, according to a report on the Ministry of Housing and Urban-Rural Development.
China's housing market sees positive changes following eased homebuying rules
An official from a United Nations (UN) humanitarian agency emphasized on Sunday that there is a long way to go to rebuild Gaza physically, mentally, and culturally after the conflict.
Georgios Petropoulos, head of the Sub-office in Gaza for the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), said that reconstruction of Gazan society will take far more than erecting new buildings.
"It's a mathematical equation of time and money, as it usually is. But to rebuild a society and an economy and a culture, that takes a little bit longer, as we all know. And the rebuilding is not just the physical aspects of schools, hospitals, universities and and homes, but it's to rebuild and to plan for and to repair the damage that's going to be done to children that may be out of school for almost two years, to families that have been completely decimated, they had loved ones killed. An agricultural system which used to be lively, which is on its knees, fisheries that are destroyed, unemployment that is almost complete now, you know you have to understand that at this point we don't even have the ability to bring cash into Gaza. So whatever you have can't really move around in the market," he said.
"Thousands of children will not be able to rebuild their lives because they don't have any legs or arms. They've been blown off there. They're the most significant and tragic victims of this war," the UN official added.
Although the UN is working on an early recovery plan, a ceasefire -- which is essential for Gaza's reconstruction -- must first be achieved, Petropoulos said.
"So rebuilding Gaza, I think, is an easy question with a very complicated answer. I can tell you that the United Nations and partners, as we do, are already working with donors in member states on an early recovery plan and the development process. But that's all going to have to be in the air until we understand exactly what the intentions and the political will is around not just a ceasefire, but stopping the daily tragedy of the people in Gaza and seeing how long it's going to take for them to stop being under fire, and how long it's going to take for the hostages to be sent back to their families. They have now also spent a year waiting with no word for hundreds of people that should be in the safe arms of their family," he said.
"So until those two things come to play, we're not going to have an answer of how long it's going to take to rebuild Gaza. And I think the last thing that I'll say on that is that my hope, and our hope is that whatever that rebuilding takes, the planning includes the people of Gaza -- how they want to see their land look and how they want it to be run, and what they want their future to look like," Petropoulos continued.
Long way to go to rebuild society Gaza after conflict: UN official
Long way to go to rebuild society Gaza after conflict: UN official
