New Observations in China| The meeting of the Political Bureau of the Central Committee first mentioned "ensuring the delivery of buildings". What should we do in the second half of the property market?
China News Network, July 29 (China News Finance reporter Zuo Yukun) The "second half" of the real estate market in 2022 has an important setting!
The Political Bureau of the CPC Central Committee held a meeting on July 28 to analyze and study the current economic situation and deploy economic work in the second half of the year. The meeting pointed out that we should stabilize the real estate market and adhere to the orientation that houses are used for living, not for speculation, Make full use of the policy toolbox to make policy decisions based on the city , support rigid and improving housing demand, Compacting the responsibility of local government, ensuring the delivery of buildings and stabilizing people's livelihood 。
Content of the first meeting of the Politburo
In the recent month, the "loan suspension" of uncompleted residential buildings in many places has aroused the attention of all parties to real estate risks. The meeting was very targeted and clear: compaction of local government responsibilities, ensuring the delivery of buildings and stabilizing people's livelihood.
"The focus of the work of stabilizing real estate began to change, from preventing risks and stabilizing the market, to placing equal emphasis on stabilizing the market, preventing risks and stabilizing the people's livelihood." Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Provincial Institute of Urban Planning, pointed out that "guaranteed delivery of buildings" first appeared at the meeting of the Central Government Bureau, The trigger factor is the hidden danger of real estate risk spreading from real estate enterprises to the downstream livelihood security field.
"The key to promoting traffic protection and people's livelihood is to compact the main responsibility of local governments. As for how to compact the responsibility, the way is to make full use of the policy toolbox." Li Yujia believes that under the framework of "one city, one policy", the effect of local governments to compact the responsibility and make full use of the policy toolbox still needs to be improved.
Data map: A newly completed real estate development. Photographed by Zhang Bin, a reporter from China News Service "From the expression of the meeting, the word" compaction "reflects that the attention to this risk will be increased, while the actual implementation of local actions to resolve risks will be fully concerned." 58 Zhang Bo, president of Anjuke Real Estate Research Institute Branch, also believes.
"At present, the policy of guaranteeing the delivery of buildings is relatively clear, local governments, commercial banks and other institutions cooperate closely, and real estate enterprises actively participate in the resumption of work. It is not ruled out that there will be a new round of policies of guaranteeing the delivery of buildings in the second half of the year." Yan Yuejin, research director of the think-tank center of E-House Research Institute, believes that, especially in promoting the construction of real estate enterprises, resolving the debt pressure of real estate enterprises There will be positive progress and performance in safeguarding the legitimate rights and interests of house buyers.
In the previous week, the CBRC made three statements, and more than 10 cities issued policies and measures related to building delivery guarantee. On the 25th, the CBRC held the system wide mid year 2022 work forum and disciplinary inspection and supervision work (television and telephone) forum, and pointed out that it would support local governments to do a good job in "building protection" and promote the steady and healthy development of the real estate market.
Chen Wenjing, the market research director of the Index Business Unit of the China Index Research Institute, said that after the central meeting set the tone, the follow-up measures and supporting funds of various regions may be accelerated. The confidence and expectation of the property market will be improved and the market will be better and more stable in the second half of the year only when the "guaranteed delivery" is carried out as scheduled and the economy recovers steadily.
Data map: real estate development. Photographed by Zhang Bin, a reporter from China News Service "Stabilizing the real estate market" takes the lead, and "housing is not speculation" remains unchanged
Since the positioning of "housing without speculation" was proposed in 2016, this meeting continues to clarify the positioning of "housing without speculation".
"Since this year, more than 100 cities across the country have issued housing support policies to support reasonable housing demand. It is expected that local support policies will continue to increase in the second half of the year, but the bottom line is' housing is not speculation '." Liu Lijie, market analyst of Shell Research Institute, believes.
It is worth noting that "the expression of 'stabilizing the real estate market' is ahead of the expression of 'housing without speculation'". Yan Yuejin believes that this fully shows that the contradiction of the current real estate market lies in the emergence of unstable factors. Therefore, the expression of stabilizing the real estate market has a very strong guiding significance.
"Each underground half year should take stabilizing the real estate market as the core goal and direction of work, that is, eliminate the factors that affect the stability of the real estate market, and promote the healthy development of the real estate market." Yan Yuejin said.
Liu Lijie also mentioned that since the second quarter, the market as a whole has shown good signs of bottom repair, but recently some prospective housing owners have stopped lending, real estate enterprises have defaulted on their debts and other situations have become unstable factors in the market, which led to the wait-and-see of the new housing market and disrupted the pace of market repair. "The steady development and virtuous circle of real estate are related to economic development and social stability, so stabilizing the property market is the top priority."
Data map: There are many buildings in the urban area. Photographed by Wang Dongming, a reporter from China News Service Continue to support rigid demand and improved housing demand
The meeting pointed out that the demand for rigid and improved housing should be supported. It is widely believed in the industry that the follow-up support for improvement needs will be increased, which is also related to the problem of making full use of the policy toolbox for urban policy implementation.
Chen Wenjing pointed out that the current real estate market still faces many unstable factors, and the optimization and adjustment of short-term real estate policies are expected to increase. There is room for both supply and demand policies, focusing on the demand release brought by the improvement of policies in second tier cities.
"The policy toolbox will not only contain demand side support policies, but also have room to increase the efforts to promote housing consumption, such as deed tax subsidies, housing subsidies, and the issuance of consumer vouchers, in addition to reducing the threshold and cost of housing purchase, such as purchase restrictions, loan restrictions, and sales restrictions." Liu Lijie believes that in the future, it may focus more on supply side policy support, such as the optimization of pre-sale fund supervision Real estate enterprise rescue policy, etc.
"In the past, more emphasis was placed on the initiative of local policy relaxation. In the first half of the year, there were many innovations in demand, including the first and second sets of housing, new and second-hand housing, as well as the implementation of very good policies in talent, migrant workers, new citizens, three child families, college students and other levels." Yan Yuejin believes that the second half of the year will be a policy tool to consolidate, digest, refine The process of materialization.
"In the first half of the year, the real estate policy was intensive but the effect was weaker than expected, so in the second half of the year, we should make full use of the policy to maximize the effect of the policy and promote the healthy development of the real estate market." Yan Yuejin said. (End)
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