There is a detailed item about the supervision of pre-sale funds of real estate enterprises in Several Measures, which has attracted the attention of the industry: commercial housing projects applying for pre-sale no longer need to submit proof of project fund balance. Enterprises with the first-class qualification of real estate development may apply to the regulatory bank for unfreezing funds that do not exceed 20% of the total pre-sale funds on the premise of ensuring the project quality, project progress, construction project funds and other project-related expenses to be paid in full on schedule; If the parent company of the project company affiliated to the first-class real estate development enterprise promises to bear unlimited joint and several liability for its rights and obligations, it may apply to the regulatory bank for unfreezing the funds not exceeding 20% of the total pre-sale funds.
At the same time, "for real estate development enterprises whose approved projects have not been opened and have been approved for sale, depending on the prevention and control of the epidemic situation, they are allowed to open on-site and open offline sales offices"; Realize the whole process of house transaction online; The "one-time signing" method shortens the online signing time of commercial housing.
This new regulation is regarded as Shenzhen's bail-out for housing enterprises. Shenzhen has always been a battleground for housing enterprises. More than 70% of the 100 billion housing enterprises are located in the Shenzhen market, or with Vanke (000002. SZ /02202。 Hong Kong), Gemdale (600383. SZ), Merchants Shekou (00 1979. Shenzhen Stock Exchange), October A(000069. SZ) and oct.
In 20 19, various macro and micro policy dividends such as the planning of pilot demonstration zones in Guangdong-Hong Kong-Macao Greater Bay Area and Shenzhen, the double expansion plan of Qianhai Shekou Free Trade Zone, the relaxation of tax standards for "non-ordinary housing" and the opening and operation of several new subway lines ran through the whole year. In this context, Shenzhen has not only seen frequent "land kings" and a significant increase in residential transactions, but also ushered in more new faces, such as Minmetals Real Estate (00230.HK) and Yuexiu Real Estate (00 123. HK)。
Enterprises or subordinate project companies with the first-class qualification of real estate development can apply to the regulatory bank for unfreezing funds not exceeding 20% of the total pre-sale funds, which will directly alleviate the financial pressure of some housing enterprises involved in Shenzhen. Especially affected by the epidemic, housing enterprises face cash flow pressure and debt default risk to varying degrees. It is reported that the amount of debts due by real estate enterprises will gradually increase from February and reach its peak in July.
"The focus of the policy is mainly to increase the short-term liquidity of housing enterprises' funds, ease the financial pressure of some housing enterprises and help some enterprises tide over the current difficulties. The impact is limited and will not have a significant impact on the relationship between supply and demand. Wu Rui, deputy managing director and head of investment department of Savills Shenzhen, said.
It is worth noting that the "Several Measures" also have some detailed rules concerning the demand side. For example, banks are encouraged to adjust the repayment arrangements of housing mortgage loans for people who are hospitalized or isolated due to infection in COVID-19. Those who are not deeply residing in the city cannot pay social security on time are deemed to have paid social security continuously.
However, He Qianru, director of Midland Property National Research Center, and others believe that the impact on the demand side is limited, indicating that the "Several Measures" are more inclined to housing enterprises, mainly to ensure the output of the supply side, while the support from the demand side is still less.
Most people in the industry commented that since last year, Shenzhen's real estate market has been hotter than other first-tier cities. Under the main tone of "housing and not speculating", it is less likely that the local property market will break through the red line of regulation.