Recently, the relevant state ministries and commissions have separately introduced measures to consolidate the achievements of real estate market regulation and promote the healthy development of the real estate market. Yesterday, the website of the central bank released a message that the down payment ratio was adjusted to 30% and above. Previously, the first set of houses below 90 square meters still enjoyed a minimum down payment of 20%. The Ministry of Finance, State Taxation Administration of The People's Republic of China and the Ministry of Housing and Urban-Rural Development also announced yesterday that the deed tax on the first ordinary house purchased by individuals will be lowered from 10 to 1. Taxpayers who sell their own houses and buy houses again within 1 year will no longer be exempted from personal income tax.
Real estate tax reform gradually expanded to the whole country.
Recently, the relevant ministries and commissions of the state have separately issued measures to implement the macro-control policies and measures of the real estate market more effectively, and immediately study and formulate the detailed rules for the implementation of document the State Council 10. Areas that have issued detailed implementation rules should be adjusted and improved according to the policies and measures recently issued by relevant state ministries and commissions. Cities with high housing prices, rapid rise and tight supply should limit the number of families buying houses within a certain period of time.
The Ministry of Housing and Urban-Rural Development, the Ministry of Land and Resources, and the Ministry of Supervision have decided to investigate the accountability of the provincial people's governments for stabilizing housing prices and housing security. If the policy implementation is not in place and the work is not effective, it is necessary to conduct interviews until the obligation is investigated.
Accelerate the pilot project in real estate tax reform and gradually expand it to the whole country. Intensify the review of the housing transaction market, and investigate and deal with acts such as speculation by brokerage agencies, driving up housing prices, and encouraging customers to sign "yin-yang contracts" according to law. All localities should strengthen supervision and inspection of the actual completion of the 20 10 housing construction plan and land supply plan, and earnestly implement the small and medium-sized affordable housing and affordable housing construction plan and land supply plan.
The down payment for the second suite shall not be less than 50%.
According to the more clear differentiated mortgage policy, the central bank and the China Banking Regulatory Commission require commercial banks to suspend the issuance of housing loans for households to purchase third and above houses; For non-local residents who cannot provide 1 year tax payment certificate or social insurance payment certificate, the housing loan will be suspended; For families who purchase a second home by loan, the down payment ratio shall not be less than 50%, and the loan interest rate shall not be less than 1. 1 times of the benchmark interest rate.
In addition, the central bank and the China Banking Regulatory Commission explicitly require commercial banks to strengthen the management of consumer loans and stop using them for buying houses. Commercial banks will terminate loans and loan terms for new development projects for real estate development enterprises that violate laws and regulations, such as idle land, changing the use and nature of land, delaying the start and completion time, and hoarding property. Commercial banks that do not seriously implement differentiated credit policies should be dealt with severely once they are verified.
At the same time, the central bank and the China Banking Regulatory Commission require that real estate development enterprises should inherit and support the loan demand for low-priced commercial housing projects and intervention in affordable housing projects. Encourage financial institutions to support the construction of affordable housing projects, and pay close attention to formulating medium and long-term loan policies to support the construction of public rental housing.
Tax incentives for individual housing sales have been tightened.
According to the notice issued by the three departments, in terms of deed tax policy in real estate transactions, if an individual purchases an ordinary house and the house belongs to the only family house (members include the purchaser, spouse and minor children, the same below), the deed tax will be levied by half. If an individual purchases an ordinary house of 90 square meters or less, and the house belongs to the only family house, the deed tax shall be levied at the reduced rate of 1%. Ordinary housing purchased by individuals who do not meet the above conditions shall not enjoy the above preferential policies. Previously, it was stipulated that individuals who purchased ordinary houses for their own use could temporarily collect deed tax by half.
This adjustment also involves preferential policies for personal income tax. The notice makes it clear that taxpayers who sell their own houses and buy houses again within 1 year will no longer be exempted from personal income tax. The notice requires that the tax collection organ should inquire about the taxpayer's deed tax payment record; If there is no record or record but there is doubt, according to the taxpayer's application or authorization, the real estate administrative department will query the taxpayer's family housing registration record through the housing registration information system and issue a written query result. Due to the local temporarily do not have the premise of the inquiry and can not provide the results of the family housing registration inquiry, the taxpayer shall submit the written credit guarantee of the actual number of family housing to the tax collection authority. If the credit guarantee is false, it is a false tax return, which shall be handled in accordance with the relevant provisions of the Law of People's Republic of China (PRC) Municipality on the Administration of Tax Collection.
■ Expert interpretation
The intensity is obviously stricter than before.
Zhang Dawei, the research director of Beijing Zhongyuan third-level market, thinks that the detailed rules once again reiterate that all localities should strictly implement the "National Ten Articles", urge all localities to promptly introduce the detailed rules for implementation, and put forward for the first time that "cities with excessively high housing prices, excessively fast rising prices and tight supply will limit the number of houses purchased by families on vacation for a certain period of time", which is obviously more severe than where to go.
For the first time, the New Deal mentioned the investigation and punishment of brokers' speculation, driving up house prices and encouraging customers to sign "yin-yang contracts". Compared with the New Deal in April, the detailed rules of this policy have been refined, and many previous detailed rules have been supplemented. Take Beijing as an example. At present, the tax paid by most second-hand houses is only 50% of the actual tax payable. Once the New Deal is fully implemented, second-hand speculators will face high real estate speculation costs. For developers with illegal records, the New Deal is strict again.
Conducive to cracking down on foreign bidders
Yang Hongxu, director of the comprehensive research department of Shanghai Yiju Real Estate Research Institute, said, "Commercial banks have suspended the issuance of housing loans for households to purchase third and above houses; Suspension of housing loans for non-local residents who cannot provide local tax payment certificates or social insurance payment certificates for more than 1 year ",these two policies are across the country, and it is no longer required to be selectively implemented in cities with high housing prices like" National Ten Articles ",which will help curb speculative investment in housing, especially foreign investment speculators. "If the loan is used to purchase commercial housing, the down payment ratio will be adjusted to 30% or above." In the previous policy, the minimum down payment for the first purchase of ordinary housing below 90 square meters could be 20%, but now it must be more than 30% across the board. "Commercial banks should strengthen the management of consumer loans and prevent them from being used to buy houses", which will more effectively block the so-called "gray channel" of buying houses through consumer loans.
The object of regulation has turned to the just-needed group.
Fan, executive vice president of Sunshine 100 Group, believes that the down payment is changed to 30%, indicating that the target of this policy regulation has shifted from the investment group to the just-needed group. Since April, most investment buyers have left the market, and now the main market players are just in need, especially first-time home buyers. Raising the down payment, on the one hand, is that the government is reminding those who just need to buy a house to have enough talent and rationality, on the other hand, it is also strengthening the prevention of financial risks. For banks, the risk of 20% down payment and 30% down payment is very different. For those who are temporarily unable to buy a house, the housing problem is mainly solved by public rental housing. This shows that the government is gradually improving the construction of the housing system that combines leasing and purchasing.
Zhang Dawei said that at present, loan purchases account for 50-60% of the total amount of second-hand houses and commercial houses. Among them, the first suite accounts for 70% of the borrowers, accounting for about 40% of the total number of buyers. Japan has developed a "shampoo robot" that imitates human shampoo. This group of people will need to increase the down payment of 10%.
The New Deal shows the government's determination to regulate the property market.
In Fan's view, women's cheap jeans are based on the reaffirmation of the National Ten Rules, and there are not many new policies, but they show the government's determination to regulate the property market. "From the introduction of the policy to the content expression, it strongly shows the government's determination to regulate the property market." "There have been comments in the market recently that regulation has become' air conditioning'. This round of policy is to completely dispel these comments, indicating that the government will unswervingly regulate the property market and will effectively curb the signs of rising transaction volume and rising house prices in some cities. "
Zhang Dawei believes that the second round of regulation came ahead of time in the just-needed waiting and anxiety of real estate speculators and developers. Compared with the expected introduction of property tax, this policy is still pending. BBC Jeans reserved a successor, which is stricter than the policy in April in all aspects, but it also reserved several issues, such as the implementation time, implementation cycle and how to introduce local rules.
Housing rental market prices are hard to rise.
Zhang Dawei, the research director of the third-level market of Zhongyuan Real Estate, believes that the important impact of this round of New Deal on the second-hand housing market is that it may change the psychological expectations of owners and buyers, and the policy mentions that the deed tax and tax will be investigated and adjusted. "The firm stance of the government will eliminate the psychology of department owners to raise prices, and at the same time make some buyers who want to enter the market in the near future reconsider," Wen said. "China has four strokes in Europe and Asia."
Therefore, Zhang Dawei believes that the market turnover is likely to fall to the lowest level below 1 10,000 sets in June and July after the New Deal, and the price should also show a downward trend again.
For the rental market, he believes that it will be steadily and gradually lowered. "At that time, people who bought houses would wait and see, and those who sold houses could only be rented, and the house payment was difficult to rise."
■ Stock market analysis
Real estate stocks face downside risks.
This credit policy adjustment is basically similar to what the market heard before. The "blockbuster" of real estate regulation has all appeared. Where will real estate stocks go?
Liu Jingde, vice president of Cinda Securities R&D Center, believes that it is certain that the introduction of this measure will hit real estate stocks, which will be further adjusted in the short term. Especially since this year, the regulation policy for real estate has never stopped. Under the bombardment of a series of policies, there are almost no investment opportunities in the real estate sector this year. It is expected that local governments and ministries will refine the implementation of policies in the future, which will directly affect the future adjustment range and duration of the industry. Liu Jingde's performance, on the whole, it is inevitable that the trading volume of the industry will shrink sharply, and the price adjustment depends on the state of the overall capital chain of developers and investors. If the policy continues to be strictly implemented until the end of the year, house prices will be adjusted to a certain extent. From the perspective of sector investment, it is expected that the adjusted stock price will run at a low level, and industry investment opportunities have not yet arrived.
Another optimistic market analyst believes that the current valuation of the real estate sector is not high, coupled with the positive rise of Fannie Mae, the room for decline has been very limited. Therefore, the reason why real estate stocks have not started in the consolidation of these months is actually that they have been looking for reasons to improve their valuation. With the landing of the current policy "boots" for the first suite and the second suite, real estate stocks may usher in the expected release of policy repression, and then show it.
Ms. Liu, a citizen, recently took a fancy to a house, ready to start, and rejected the media of the ultimate screen name system D. The house is 87 square meters and the unit price is 27,000 yuan. It is precisely because the loan policy stipulates that a house below 90 square meters can be down paid by 20%, and a house above 90 square meters can be down paid by 30%, that Ms. Liu chose a small apartment that is more in line with her economic strength. After consulting the bank, Ms. Liu learned that because she is a Beijing hukou and is the first suite, she can make a down payment of 20%.
Hearing that the new loan policy is about to be implemented, Ms. Liu is very anxious. If the New Deal is implemented, her down payment ratio will increase from 20% to 30%, which will increase by 235,000. She is eager to buy a house and get married, so it is difficult for her to raise so much money in a short time. She is most concerned about when this policy can be implemented, because she has signed a pre-purchase agreement with the developer and paid a down payment of 50 thousand. She only paid the down payment yesterday, and the loan procedure has not been finally approved. Ms. Liu doesn't know whether this new policy will affect her house purchase and loan. If there is any change, how to protect her rights and interests?
This edition was written by our reporter Ma Huan, Zhao Peng, Ao Xiaobo.