20 19 government work report clearly stated that "there are a large number of old urban communities, so it is necessary to vigorously carry out renovation and upgrading, update supporting facilities such as water, electricity and gas, support the installation of elevators, and improve life service facilities such as convenience markets, convenience stores, pedestrian streets, parking lots and barrier-free passages."
In this regard, Zhang Peng, president of Contemporary Real Estate, said that the renovation of old residential areas is a major livelihood project, which is related to people's life and life experience. This is also one of the core concerns of the government. The renovation of old residential areas in China will drive the investment of trillion industrial chains and promote economic growth, which is very necessary in the current domestic and international environment.
Social capital should be introduced to actively participate in the transformation of old residential areas
The government work report mentions the renovation of old residential areas twice, which shows that the country has promoted it as an important livelihood work. In this regard, Zhang Peng, President of Contemporary Real Estate, said that this has a profound background. First, it is determined by the stage of urban development in China, and the core cities of many first-and second-tier cities have entered the era of incremental construction and stock transformation; Second, the renovation of old residential areas is a major livelihood project, which is related to the people's livelihood and life experience, and is also one of the core concerns of the government; Third, from a national perspective, the transformation of old residential areas will drive trillion yuan of industrial chain investment and promote economic growth, which is very necessary in the current domestic and international environment.
However, the renovation of old residential areas is not an easy task, such as the source of funds, interest coordination, profit model and so on. In Zhang Peng's view, the mode based on fiscal expenditure will face the embarrassment that it cannot be popularized on a large scale, and socialized enterprises and market-oriented capital should be actively introduced to participate deeply. In addition, the access mechanism and related supporting systems are not perfect, so it is necessary to gradually open up, optimize the project system, simplify the promotion process and introduce market competition. Low return on investment and high market risk may reduce the enthusiasm of enterprises to participate, so it is necessary to formulate support policies and special incentive mechanisms to solve the problem.
The central government's push for the transformation of old residential areas will inevitably provide opportunities for the entry of social capital. As a real estate enterprise, how will it set foot in this blue ocean market? In this regard, Zhang Peng believes that the renovation of old residential areas is related to people's livelihood, and the market space is huge, which should also become one of the new business layouts and growth points of housing enterprises. First of all, you can directly participate in the renovation of old residential areas, as well as the construction of pension and rental housing. Secondly, property service enterprises can vigorously develop online and offline community service industries and build smart communities. Third, we can participate in the technological transformation of old residential areas, and use green building technology, digital technology and black technology to help the intelligent transformation and digital operation of old residential areas and improve the living environment and living experience.
"Because of the city policy" releases positive signals
In addition, in the government work report in 2020, there was also a mention of real estate. "Adhere to the positioning that houses are used for living, not for speculation, and promote the stable and healthy development of the real estate market because of the city's policy."
In this regard, Zhang Peng explained that under the macro background that the domestic and international economic and trade situation is facing greater uncertainty and the real estate market is under greater downward pressure, "waiting for houses without speculation", "stabilizing house prices, land prices and expectations" are still the consistent main tone and core positioning of the government, and establishing and improving a long-term mechanism to promote the stable and healthy development of the real estate market is still the first goal.
This time, the re-emphasis on "making policy for the city" was considered as a positive signal by Zhang Peng. "It also provides a certain space for the subsequent policy release, and the probability of policy adjustment in the later period increases. Local governments can give play to the macro-control efficiency of policies and the self-regulation mechanism of the market, adjust relevant fiscal, taxation and market control policies in a targeted manner, and better implement the long-term control objectives of stabilizing land prices and housing prices. "
In terms of monetary policy that has a great impact on real estate, it is clear in the government work report that "a prudent monetary policy should be more flexible and moderate". Zhang Peng analyzed that the "flexibility and moderation" proposed by NPC and CPPCC this year is an improvement on the previous "tightness and moderation", emphasizing the important value of flexible, personalized and customized monetary policies. On the one hand, it is the diversified release of monetary means, on the other hand, it is the customized release for different industries and regions. This is an innovative move under the current unstable economic and trade situation, which is conducive to making full use of monetary leverage and effectively exerting the value of the tangible hand of economic construction and social development.
Zhang Peng further stated that this will prevent too much money from flowing to real estate. "This government work report specifically proposes to innovate monetary policy tools that go directly to the real economy. This is an' enhancement' of previous policies, avoiding excessive capital flow to real estate and other fields and losing effective support for the real economy, thus pushing up housing prices in hot cities. It is expected that in the future, fund supervision will be stricter, the policy entry threshold and fund allocation mechanism will be gradually improved, the real estate fund policy will continue to advance steadily, and the main tone of moderate tightness has not changed substantially. "