Topic: A-share has entered the right rising stage, and foreign investors are optimistic about the allocation value of A-share
Our reporter Xie Ruolin
Trainee reporter Zhang Xiangyi
On May 22, Guangzhou Real Estate Industry Association and Guangzhou Real Estate Intermediary Association officially launched the proposal for the city's housing "old for new" activity, and the first batch of 122 real estate projects and 12 real estate intermediaries were launched in the city.
On the same day, the Housing and Urban Rural Development Department of Hubei Province, together with the Finance Department of Hubei Province and other departments, jointly issued the "Several Measures to Further Promote the Steady and Healthy Development of the Real Estate Market", which mentioned the promotion of "old for new" housing. Support state-owned enterprises to purchase second-hand housing to "bridge" the sale of old and purchase of new; Encourage the tripartite linkage of development enterprises, brokers and buyers to realize the "first sale" of old houses and the "preferential purchase" of new houses.
According to the data of China Index Research Institute, up to now, more than 60 cities in China have launched the "old for new" housing measures, including Shanghai, Guangzhou, Shenzhen and other first tier cities. "Trade in the old for the new" has become an important measure to unblock the market and stimulate the vitality of housing consumption.
Open the replacement chain blocking point
"The 'old for new' housing can link the demand for just needed second-hand housing with the demand for improved new housing, which is targeted at the current situation of intensive outbreak of demand for improved housing and urgent demand for owners to exchange houses." Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Provincial Institute of Urban Planning, told the Securities Daily reporter that, At present, there are some pain points in the second-hand housing market, such as great transaction difficulty, long transaction cycle, and complex transaction process. It is necessary for policy cooperation to open up the main links in the housing exchange chain.
At the moment of new changes in the supply and demand relationship of the real estate market, the policy measures to comprehensively study and digest the stock of real estate and optimize the incremental housing have become the focus of all regions. The housing "old for new" policy aims at the blocking point of the current market, aiming to speed up the circulation of primary and secondary commercial housing.
58 Zhang Bo, president of Anjuke Research Institute, said to the reporter of Securities Daily that on the one hand, the "old for new" housing can accelerate the depopulation of a large number of listed second-hand housing stocks, on the other hand, it also releases the demand for improvement, which is conducive to the depopulation of commercial housing stocks.
Judging from the measures that have been launched at present, various regions mainly adopt the modes of multi party linkage to help sell, real estate enterprises or state-owned asset platforms to "collect the old for the new", and government subsidies to promote the "old for the new" of housing.
Among them, the multi-party linkage selling model is common. Guangzhou, Shanghai, Shenzhen and other first tier cities that launched the "old for new" proposal all adopt this model, which requires the interaction of house changers, real estate enterprises and intermediaries. At the same time when the house changers give priority to the purchase of new houses, the intermediaries help the house changers give priority to the sale of old houses.
Nearly 20 cities, such as Nanjing and Zhengzhou, adopt the "old for new" model of real estate enterprises or state-owned asset platforms. Enterprises or platforms purchase second-hand houses in stock at the assessed price. The house changers select intended new houses within a certain range and sign sales contracts with developers.
In addition, Suzhou, Shenyang and other cities provide corresponding financial subsidies to owners who sell old houses and buy new ones.
Efficient connection between "buying new" and "selling old"
Guangzhou, which has just released the proposal for the housing "old for new" activity, announced the list of the first batch of real estate intermediaries, including a total of 12 intermediaries. In an interview with the reporter of Securities Daily, the broker who worked in one of the intermediaries said that they were already implementing the content of the "old for new" activity. For the old houses of owners who participated in the "old for new" activity, they would increase their promotion efforts through short videos, social media and other ways.
This is a microcosm of the implementation of the multi party linkage sales model in various regions. For owners who need improvement, a series of services, such as locking in the source of new houses, canceling the new house subscription agreement without responsibility and returning the deposit, and the intermediary vigorously "help push", make the replacement process more smooth.
"In the process of replacement, there is information asymmetry between the owners of second-hand houses, the new buyers of second-hand houses and the developers who sell new houses, which leads to no way to match the housing supply. This is a big problem at present." Li Yujia said that the housing "old for new" activity can open up some main links.
"The effect of this model largely depends on the market operation. Under the current 'buyer's market', there is a great deal of uncertainty in the sale of second-hand houses in this model." Cao Jingjing, general manager of the Index Research Department of the Chinese Academy of Sciences, said.
Li Yujia suggested that the participating buildings and second-hand houses are uneven. In order to achieve the high efficiency of "trade in the old for the new", some second-hand houses with poor supporting facilities should speed up the improvement of public facilities. On the other hand, the developers of the buildings should also make concessions.
At the same time, the "old for new" model has also achieved some results. Taking Nanjing as an example, the stock housing located in the six main urban districts of Nanjing (Xuanwu District, Qinhuai District, Jianye District, Gulou District, Qixia District, Yuhuatai District) can replace the new commercial housing under Nanjing Anju Construction Group (hereinafter referred to as "Anju Group"). The stock housing is purchased by the wholly-owned company under Anju Group based on the appraisal price.
According to Anju Group, as of May 20, there were about 3450 groups of online, telephone, on-site and other kinds of consultation, about 4150 groups of intention to register on the WeChat applet "Ning Huan Xin" platform, and about 3430 groups of qualified registration in the preliminary review. There are about 2230 groups of visitors to the case scene, and 515 groups of house changing people who have paid the money for new house intention. At present, 52 groups of customers have confirmed the transaction.
While actively meeting the replacement demand by "replacing the old with the new", the owners also have some concerns. Among some Nanjing house changers interviewed by the reporter, there is widespread concern about the low appraisal price.
"I'm still waiting for the appraisal price." Ms. Ding, who plans to sell the property in Qinhuai District, Nanjing, told reporters that she had already paid the interest money, but if the appraisal price is too much lower than the psychological expectation, she may choose not to change.
Ms. Ding also told the reporter that the advantage of participating in the "old for new" is that she does not need to spend time and energy selling the house. As long as it is not too much lower than the current market transaction price of second-hand houses, she is more inclined to meet the replacement demand through the "old for new" housing.
Cao Jingjing said that, on the whole, the "old for new" model met the owner's demand for improved housing and accelerated the inventory reduction of the new housing market. In practice, this model can further improve the operation process to ensure the effect of policy implementation. For the situation that the appraisal price is too low to discourage the owner's enthusiasm for replacement, and the owner needs to prepare a fund to repay the loan and remove the mortgage before the recovery of second-hand housing, the future policy can be improved in terms of supporting the transfer of ownership with mortgage and giving preferential subsidies.
"At the policy level, the" old for new "housing needs to be combined with the reduction and exemption of transaction taxes in the process of housing replacement, as well as the change of down payment policy for housing replacement, to more effectively reduce transaction costs and promote the replacement to enter the market with more confidence." Zhang Bo suggested.
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