Since the beginning of this year, various regions have made efforts to consolidate the stable situation of the real estate market, build a new model of "market+guarantee" for real estate development, and continue to promote the acquisition of existing commercial housing. On July 9th, the Housing Security and Real Estate Management Bureau of Zhengzhou City issued a notice on the collection and acquisition of existing commercial housing for use as affordable housing projects, clarifying that the purchase of existing commercial housing for use as affordable housing will be allocated or leased, and eligible housing projects will be collected from Zhengzhou City. Acquiring existing commercial housing for use as affordable housing can help promote a rebalancing of supply and demand in the real estate market. ”Yan Yuejin, Vice President of Shanghai E-house Real Estate Research Institute, stated that transforming existing commercial housing into affordable housing not only helps to reduce inventory in the real estate market and avoid wastage of resources, but also establishes a dynamic transformation mechanism from commercial housing to affordable housing. This mechanism enables flexible allocation of resources between different needs, meeting the reasonable demands of the commodity housing market and ensuring the housing needs of low - and middle-income groups. Currently, the acquisition of existing commercial housing has become an important lever for various regions to coordinate the revitalization of existing real estate and stabilize the real estate market. Various regions have taken innovative measures in terms of funding sources and usage of existing commercial housing to better promote the implementation of the acquisition work. In June, the General Office of the People's Government of Guangxi Zhuang Autonomous Region released the "Implementation Plan for the Special Action to Boost Consumption in Guangxi", which proposed to coordinate the revitalization of various types of housing, expand the use of purchased housing, make good use of policy tools such as special bonds and re loans for affordable housing, and strive to acquire 25000 units of existing commercial housing by 2025. In Guangdong, innovative measures to expand the use of purchased housing and combine the purchase of existing commercial housing with the renovation of urban villages have been implemented and proven effective. In November last year, Guangdong Province's first special loan fund for purchasing existing housing as resettlement housing landed in the "Five Villages and Seven Blocks" urban village renovation project in Jiufo Street, Guangzhou. As of May 30th this year, the project has completed the subscription of nearly 1000 sets of housing tickets, sold nearly 100000 square meters of commercial housing, and subscribed for more than 1.6 billion yuan. In June, 6796 new houses were signed online in Guangzhou, setting a new high for the year. The main driving force was the purchase of existing commercial housing through special loans for resettlement or the use of special loans to support housing ticket resettlement. ”Li Yujia, Chief Researcher of Guangdong Housing Policy Research Center, analyzed that purchasing existing commercial housing for resettlement purposes can accelerate the process of villagers' relocation and better match the supply of existing housing with housing demand, effectively revitalizing the real estate market. In terms of funding sources for the acquisition of existing commercial housing, various regions are making good use of housing rental group purchase loans and affordable housing refinancing loans, while also raising lower cost and longer term funds through local government special bonds (hereinafter referred to as "special bonds"). According to statistics from the Zhongzhi Research Institute, in May of this year, Zhejiang and Sichuan successively issued special bonds worth 1.75 billion yuan and 170 million yuan for the acquisition of existing commercial housing, totaling 11 projects. Yan Yuejin stated that through the injection of special bond funds, the speed of disposing of completed commercial housing can be accelerated, and the risks and hidden dangers caused by inventory backlog can be reduced. At the same time, by combining the policy tool of affordable housing refinancing and working together, the efficiency of destocking will be significantly improved, which will help further stabilize the real estate market, prevent the occurrence of systemic financial risks, and ensure the smooth operation of the economy and society. In the future, financial support for the acquisition of existing commercial housing is expected to further increase. At the second quarter of 2025 regular meeting of the Monetary Policy Committee of the People's Bank of China held at the end of June, it was proposed that efforts should be made to promote the implementation of financial policies and measures that have been introduced to take effect, increase the vitality of stock commercial housing and stock land, and continue to consolidate the stability of the real estate market. Revitalizing existing commercial housing can provide assistance for inventory reduction. The decrease in inventory will also reduce price competition among developers, while stabilizing market confidence and price expectations. ”Li Yujia suggests that in order to further promote the implementation of the purchase of existing commercial housing, various regions can do a good job in "ordering according to demand", investigate residents' needs for housing and supporting facilities, select acquisition targets that match their needs, and reasonably formulate acquisition prices. (New Society)