Opinion | Forget property boom times. China is quietly focusing on ‘good houses’

Beijing’s recommendations for the 15th five-year plan, which will be finalised in March next year, set the goal of “promoting high-quality development in the real estate sector”, in place of the familiar mantra that housing is “for living in, not for speculation”. This is not a matter of rhetoric but of policy repositioning. The new focus is on rebuilding the system with better rules, a more sustainable operating model and higher-quality products, rather than relying on headline-grabbing curbs.

This matters because the purpose of housing is being redefined. Placed within the broader framework of people’s livelihood, the property sector is no longer merely seen as a driver of urbanisation. Homes are now expected to be affordable and provide security before they serve growth targets.

The new operating model outlined in the recommendations is a back-to-basics framework. It calls for improved rules for development, financing and sales, an optimised supply of subsidised housing, and an expansion of better housing stock tailored to each city’s needs.

The notion of “good houses” – safe, comfortable, green and smart – has been elevated from slogan to policy deliverable. Upgrades and professional property services are becoming central to reshaping expectations in a market where consumers are increasingly discerning and pricing power is defined by quality rather than scarcity.