Foshan: You can buy a house in your home to support the exchange of old for new

On May 13, Foshan Housing and Urban Rural Development Bureau issued the Notice on Several Measures to Continuously Promote the Steady and Healthy Development of the Real Estate Market (hereinafter referred to as the Notice). The Notice proposed 13 new real estate policies, including optimizing the calculation rules of floor area ratio, paying the land transfer price in installments, encouraging and supporting the "old for new" housing, relaxing the policy of purchasing houses and entering households, and implementing the price standard of civil water and electricity for residential apartments.

On the demand side, Foshan has relaxed the policy of house purchase and household entry. Non residents holding houses with their own legal property rights in this city can apply for household entry in the place where the house is located. Spouses and minor children living together can move with them. Support real estate development enterprises, intermediaries and buyers to jointly carry out the activity of "old for new", and encourage real estate enterprises to carry out the activity of replacing existing properties with new ones; Support local state-owned enterprises to participate in the "old for new" activity, and increase financing support for the purchase of market stock properties for affordable housing, rental housing, talent housing, etc.

The Notice shows that from January 1, 2024 to December 31, 2025, taxpayers who sell their own houses and buy houses again in the market within one year after the sale of their existing houses will be given preferential tax rebates for the individual income tax paid on the sale of their existing houses.

At the same time, Foshan increased support for housing purchase with provident fund loans: increased the calculation multiple of provident fund payment balance, and increased the loanable limit of housing provident fund loans as a whole; Promote the "mortgage transfer" of second-hand housing transactions with housing provident fund loans; Employees who purchase new commercial housing in this city through personal housing commercial loan or personal housing provident fund loan can apply for withdrawing provident fund to pay down payment for house purchase.

Foshan will also implement the dynamic adjustment mechanism of the interest rate of the first housing loan, and implement the policy of phasing out the lower limit of the interest rate of the city's first commercial housing commercial personal housing loan. The specific interest rate level shall be determined by the commercial bank and the borrower through independent negotiation.

While making efforts on the demand side, Foshan introduced supporting policies at the supply side, such as optimizing the calculation rules of floor area ratio, implementing the installment payment of land transfer price, and accurately meeting project financing needs.

The policy is clear that for newly transferred residential land, the upper limit of the "half" capacity area of the balcony in the residential suite will be increased from 18% of the building area of the suite to 20%; Cancel the restriction on the depth and area of a single balcony; Cancel the requirement that the height difference between the convex (floating) window sill and the ground should be less than 0.45m. When planning conditions are issued, certain flexibility is reserved for subsequent building scheme preparation.

In terms of payment of land transfer price, for real estate development projects that pay the land transfer price by stages, the transferee can apply for development application procedures such as construction land planning permit, construction project planning permit and construction project construction permit after signing the State owned Construction Land Use Right Transfer Contract and paying 50% of the transfer price. After paying the remaining 50% of the transfer price, the land use right certificate and the pre-sale permit of commercial housing shall be handled.

In terms of project financing, increase the financing arrangement and support for the "white list" project of the municipal real estate financing coordination mechanism. Support the application of new real estate development projects to be included in the "white list". For the "white list" projects whose new financing has covered the overall completion cost of the project, an equal amount of pre-sale regulatory funds can be applied for release according to the node to repay the interest of the new financing capital. Local state-owned enterprises that purchase and promote the construction of housing guarantee risk projects in an appropriate way will increase financing support, and can be included in the transformation and replacement of urban villages and affordable housing.

The Notice shows that 13 new policies will be implemented from the date of printing and distribution, and Foshan Housing and Urban Rural Development Bureau will take the lead in explaining them, and relevant departments will formulate implementation rules separately.

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