China’s housing ministry declares real estate sector has entered era of existing stock
At a September 18 State Council press conference, China’s Ministry of Housing and Urban-Rural Development (MOHURD) announced the real estate sector has entered an era dominated by existing stock, with second-hand home transactions rising from 27% in 2020 to 52% in the first eight months of 2025. Officials outlined “two shifts, two transitions, and three transformations” for the 15th Five-Year Plan, including urbanization slowing, urban development focusing on existing stock quality, and construction shifting toward intelligent, green, and integrated methods.
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China's Housing Ministry Announces Two Major Transitions in Urban and Rural Construction Sector
At a State Council Information Office press conference on September 18, MOHURD spokesperson and Vice Minister Chen Shaowang outlined three transformational trends in housing and urban-rural construction during the 15th Five-Year Plan period. The 'two shifts' in urban and rural construction are: urbanization moving from rapid growth to stable development, and urban development shifting from large-scale incremental expansion to quality and efficiency improvement of existing stock. The 'two transitions' in housing and real estate are: significant changes in supply-demand dynamics, and the market entering an era dominated by existing stock, with second-hand home transactions rising from 27% in 2020 to 52% in the first eight months of 2025. The 'three transformations' in the construction industry involve intelligent, green, and integrated development. MOHURD will promote selling completed homes to address pre-sale risks, expand housing provident fund coverage to flexible employment personnel, and rectify irregularities in bidding and overdue payments for construction projects.
Read sourceChina's real estate sector enters era of existing stock, MOHURD says at press conference
At a State Council Information Office press conference as part of the 'Starting Strong in the 15th Five-Year Plan' series, officials from China's Ministry of Housing and Urban-Rural Development (MOHURD) outlined the transformational challenges facing the housing and urban-rural development sector during the 15th Five-Year Plan period. They described the situation as 'two shifts, two transitions, and three transformations.' The 'two shifts' refer to urbanization moving from rapid growth to stable development, and urban development shifting from large-scale incremental expansion to quality improvement within existing stock. The 'two transitions' highlight significant changes in real estate market supply-demand dynamics and the sector's entry into an era dominated by existing stock. The 'three transformations' involve the construction industry moving toward intelligent, green, and integrated development. MOHURD also set five key objectives for the period: progress in building modernized cities, improved living standards, upgraded construction industry quality, enhanced global influence in human settlements, and strengthened foundational support for high-quality development.
Read sourceChina's Housing Ministry Says Sector Faces New Landscape During 15th Five-Year Plan Period
At a State Council Information Office press conference on September 18, officials from China's Ministry of Housing and Urban-Rural Development stated that the housing and urban-rural development sector faces a new landscape during the 15th Five-Year Plan period. The sector comprises three main areas: urban and rural construction, housing and real estate, and the construction industry. All three are at a critical stage of transformational development, summarized as 'two shifts, two transitions, and three transformations.' The 'two shifts' refer to urbanization shifting from rapid growth to stable development, and urban development transitioning from large-scale incremental expansion to quality and efficiency improvement within existing stock. The 'two transitions' in housing and real estate are the significant change in supply-demand dynamics and the entry into an era dominated by existing stock. The 'three transformations' in the construction industry are its transition toward intelligent, green, and integrated development.
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China's Real Estate Sector Enters Era Dominated by Existing Stock, Ministry Says
At a State Council Information Office press conference on September 18, officials from China's Ministry of Housing and Urban-Rural Development outlined key transformations for the housing and urban-rural development sector during the 15th Five-Year Plan period. The sector is described as being at a critical stage of transformational development, summarized as 'two shifts, two transitions, and three transformations.' The 'two shifts' refer to urbanization moving from rapid growth to stable development, and urban development shifting from large-scale incremental expansion to quality and efficiency improvements within existing stock. The 'two transitions' in housing and real estate include significant changes in supply-demand relationships and the sector entering an era dominated by existing stock. The 'three transformations' in the construction industry involve a shift toward intelligent, green, and integrated development. The statements were reported by CCTV News and relayed by Jin10 Data.
China's Real Estate Sector Enters Era of Existing Stock, MOHURD Official Says
At a State Council Information Office press conference, Chen Shaowang, spokesperson for China's Ministry of Housing and Urban-Rural Development (MOHURD) and Vice Minister, stated that the real estate sector has entered an era dominated by existing stock. He outlined three sectors—urban and rural construction, housing and real estate, and the construction industry—undergoing 'two shifts, two transitions, and three transformations.' Zhang Xuetao, Director-General of the Department of Real Estate Market Supervision, noted that the proportion of second-hand home transactions rose from 27% in 2020 to 46% in 2025, reaching 52% in the first eight months of 2025, crossing the 50% threshold that signifies the existing stock era. MOHURD also announced five goals for the '15th Five-Year Plan' period, including modernizing cities, improving living standards, and upgrading the construction industry. Specific measures include raising standard floor height from 2.8 to 3 meters, requiring elevators in buildings four stories or higher, and raising guardrail heights to at least 1.2 meters. The ministry will also formulate work plans for digital housing and urban-rural development, promoting AI, smart cities, and smart homes, and will intensify rectification of irregularities in bidding and payment arrears.
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