China business news
This year, more than 100 cities have issued policies to stabilize the real estate market, including several provincial capitals.
In April, various localities continued to introduce policies to stabilize the property market.
On the evening of April 28th, the Notice of the General Office of Guiyang Municipal People's Government on Promoting the Healthy Development of the Real Estate Industry (hereinafter referred to as the Notice) was issued, which will continuously optimize and improve the business environment in the real estate field from five aspects: enterprise cost, credit demand, commercial housing circulation, housing supply and government services, so as to promote the healthy development of the real estate industry.
In terms of credit demand, the Notice proposes to lower the threshold of personal housing consumption. Encourage and guide financial institutions to implement the 20% down payment policy for the first home loan. Support and guide financial institutions to implement the first home loan policy for families who own a set of housing and have settled their housing loans and apply for loans to buy ordinary housing again to improve their living conditions.
The "Notice" also mentioned that those who purchase commercial housing in Gui 'an administrative area of Guiyang can apply to settle in the community where the commercial housing is purchased, and at the same time ensure that the settled children attend public schools in the compulsory education stage; Migrant workers living in Gui 'an, Guiyang, enjoy the same medical security as the registered population according to regulations.
Yan Yuejin, research director of the think tank center of Yiju Research Institute, analyzed that some contents of Guiyang's policy should be similar to those of cities across the country, such as reducing the down payment ratio to 20% and improving the application of the down payment of 20%. At the same time, there are also some differentiated policies. For example, encouraging you to buy a house in Gui 'an New District means that you can settle down and enroll your children as long as you buy a house. A similar approach is actually a regional relaxation policy, which can promote the housing market in such specific areas to be active and objectively realize the destocking work in peripheral areas or new towns. This relaxation clause adapted to local conditions can better meet the demands of local property market development.
On the evening of April 28th, Tianjin Municipal Commission of Housing and Urban-Rural Development issued a draft of the Notice on Matters Related to the Application and Sales of Price-Limited Commodity Housing, clarifying that the city will stop accepting applications for the qualification of price-limited commodity housing from July 1 2022. Since June 10, 2022, the city has stopped selling price-limited commercial housing.
On April 28th, the Human Resources and Social Security Bureau of Zhongshan City, Guangdong Province issued a notice that all non-Zhongshan registered talents with college degree or above, professional and technical qualifications, professional qualifications or vocational skill level certificates are allowed to buy 1 set of new commercial housing in the whole city, and the housing shall not be listed and traded within 2 years from the date of online signing. The mortgage loan policy shall be implemented in accordance with the relevant provisions of the state.
On the afternoon of April 27th, the Housing and Urban-Rural Development Bureau of Jiangmen City, Guangdong Province, together with the Jiangmen Municipal Bureau of Commerce, held a press conference on "Promoting Consumption in Jiangmen City in 2022", announcing that from April 28th, 9,000 sets of purchase and consumption spree with a total value of 37 million yuan will be distributed to the first batch of buyers who have purchased new commercial housing in Jiangmen and gone through the contract online signing procedures.
According to the statistics of Zhongyuan Real Estate Research Institute, since April, more than 60 cities, including Quzhou, Qinhuangdao, Mianyang, Lanzhou, Dalian, Lishui, Suzhou, Nanning and Kunming, have issued policies with different strengths. National cumulative data show that since 2022, nearly 1 10 cities have issued policies to stabilize the property market, including new first-tier cities and second-tier cities such as Suzhou, Fuzhou, Zhengzhou, Foshan and Tianjin. The policy content is mainly to promote the release of just-needed and improved demand. Among them, since March, cities including Fuzhou, Zhengzhou, Foshan and Lanzhou have loosened or cancelled restrictions on purchases and sales.
China * * * the Political Bureau of the Central Committee held a meeting on April 29th. The meeting stressed that it is necessary to effectively control key risks and keep the bottom line of systemic risks. We should adhere to the position that houses are used for living, not for speculation, support local governments to improve real estate policies according to local conditions, support rigid and improved housing demand, optimize the supervision of pre-sale funds of commercial housing, and promote the stable and healthy development of the real estate market.
Experts predict that more cities will join the ranks of stabilizing the property market. In this process, the intensity of each place will also show obvious differences. Jaco, Dean of 58 Anjuke Real Estate Research Institute Branch, analyzed CBN. Next, different cities and regions will have different regulatory efforts and priorities. Future regulation will have two characteristics, and a small and medium-sized city will relax more. On the other hand, the regulation of first-and second-tier hotspot cities will show obvious marginalization and relaxation trend.
Jaco said that in third-and fourth-tier cities, the pace of relaxation in the property market will be more obvious and the intensity of relaxation will be greater. In terms of relaxing purchase restrictions, adjusting mortgage interest rates, and land acquisition policies of housing enterprises, the scale is significantly stronger than that of most first-and second-tier cities. These cities now need more stimulus to boost the market.
In contrast, the relaxation of hot cities is mainly done at the levels of mortgage interest rate, talent introduction and provident fund, and the degree of relaxation will be much smaller. At the same time, in the field of relaxation, there will also be the characteristics of marginal relaxation. For hotspots in the main city, hotspots that just need to be concentrated, and sectors with relatively large price limits, the policy will not be tilted. But for some oversupply sectors, the relaxation will be even greater. For example, some peripheral areas of some first-tier cities may introduce some relaxation measures in combination with talent introduction.
Jaco analyzed that the overall stability of first-tier cities is strong, and the next step of deregulation will be more cautious. While the mortgage is loose, it may pay more attention to the improved demand entering the market. The fundamental differences in second-tier cities are obvious. Many hot provincial capital cities, such as Hangzhou, Nanjing, Xi and Chengdu, have relatively balanced supply and demand, and even some cities are in short supply. However, due to the strict regulation in the early stage, some self-occupied demand cannot enter the market, and the pace of relaxation in such cities is still slow. In some second-and third-tier cities with a long de-chemical cycle, the intensity of policy relaxation will continue to increase, including policies such as canceling purchase restrictions and reducing down payment, or more such cities will appear.