Three Departments Issue Notice on Improving Commercial Housing Sales System: Strengthening Pre-sale Fund Supervision and Promoting "Key Delivery Upon Handover"

According to the Notice, for commercial housing pre-sales, the main structure must be topped out, all purchase funds must be deposited into supervised accounts, and buyers may cancel contracts and receive refunds in case of breach. For newly transferred land parcels and projects without construction permits, priority will be given to spot sales; projects with construction permits are encouraged to adopt spot sales. Spot sales will be subject to filing management, and a deposit system will be promoted. Local governments are required to optimize land supply, increase financing support, promote "key delivery upon handover," and facilitate high-quality development of the real estate sector.