Original title: Promoting the steady development of the real estate market by implementing policies in the city
In this round of local policy adjustment and optimization, the coverage of cities has been gradually widened. At present, the relationship between supply and demand in the real estate market has undergone major changes, and market confidence still needs to be restored. Further optimizing urban regulation policies and promoting the release of housing demand are very important for stabilizing the market.
On April 28, Chengdu further optimized the real estate market policy. Housing transactions throughout the city will no longer review the household registration, social security and other housing purchase conditions, and will no longer limit the number of units purchased. This means that the purchase restriction policy implemented in Chengdu for more than 7 years has been completely lifted. Not only Chengdu, but also many cities have continued to strengthen policies to support the stable development of real estate since this year. In addition to easing purchase restrictions, they also reduced the interest rate of provident fund loans, and the policy of "old for new" housing.
The policy of optimizing the real estate market in Chengdu is the concrete embodiment of promoting the steady and healthy development of the real estate market through the implementation of urban policies. As the real estate market gradually enters the adjustment period, the once relatively stable Chengdu real estate market will face certain downward pressure after the first quarter of 2024, and the sales area of new commercial residential buildings will decline both year on year and month on month. The sales volume of second-hand houses is better than that of new houses, which is the result of "exchanging price for quantity".
Since this year, the price of second-hand houses in Chengdu has continued to decline. In addition to the overall cancellation of purchase restrictions, Chengdu also cancelled the lottery number policy for new houses this time, and the provident fund policy was also optimized synchronously. The ceiling of the maximum provident fund loan for the first home of a family with many children was increased by 100000 yuan. When the market shows a trend of adjustment, Chengdu will adapt to the changes in real estate supply and demand, adjust purchase restrictions and other measures to better meet the diversified housing needs of the masses.
In the past two or three years, purchase restrictions have been gradually lifted in many cities. The purchase restriction policy was introduced to curb the overheated real estate market at the stage of rapid growth. With the change of market situation, the current purchase restriction policy has begun to loosen in many cities, but there are still some cities whose purchase restriction policies have not been lifted completely.
In addition to purchase restrictions, recent policy adjustments have focused on the elimination of the lower limit of mortgage interest rates. Since April this year, Fuzhou, Qingdao and many other cities have begun to cancel the lower limit of interest rate for the first house loan, which helps to reduce the cost of house buyers and mobilize the enthusiasm of residents to purchase houses.
The measures to help stabilize the property market by adjusting the provident fund policy are also very intensive. Beijing plans to provide floating provident fund loans to buyers of green buildings and prefabricated buildings, with a maximum loan of 1.6 million yuan; Guangzhou raised the maximum amount of provident fund loans, and the maximum amount of one person applying for loans was adjusted to 700000 yuan; Suzhou launched a new mode of "flexible deposit and withdrawal at any time" to pay housing provident fund; Shenyang can draw provident fund for down payment, and relax the application conditions for "business to business" loans. Statistics show that since this year, nearly 100 cities in China have adjusted and optimized their provident fund loan policies. Some cities have also adjusted more than once, and many cities have many innovations in their new provident fund policies. The optimization of provident fund policy will help to revitalize the use efficiency of existing housing provident fund, promote the release of rigid and improved housing demand, and inject vitality into the market.
The "old for new" housing policy is specifically aimed at the improved replacement groups. The local government adopts two ways, namely, the acquisition of state-owned security housing operating companies and market-oriented transactions, to promote the safe, efficient and rapid exchange of housing among the people who need improved housing. At the same time, the government will give certain deed tax subsidies to those who buy new commercial housing by "trade in". More than 30 cities have launched the "old for new" policy, which helps to revitalize the stock of housing, improve market activity, and increase residents' willingness to buy houses.
In this round of local policy adjustment and optimization, the coverage of cities has gradually expanded, and first-line cities have also introduced many adjustment and optimization measures. For example, Guangzhou has cancelled the purchase restriction measures for units of more than 120 square meters, and Shanghai and Shenzhen have successively cancelled the "7090" policy, that is, in the total area of newly approved and newly started commercial housing, the proportion of housing (including affordable housing) with a floor area of less than 90 square meters must reach more than 70%. After Beijing abolished the purchase restriction policy of "no house can be bought in Beijing within three years of divorce", the new measure of "if the divorce is less than one year, if the current family does not have a house in Beijing, the first house loan policy" has also been implemented.
The effect of real estate regulation is emerging. From the sales data, the sales area and sales volume of new commercial housing in the first quarter of this year decreased by 1.1 and 1.7 percentage points respectively from January to February. From the investment data, in the first quarter, the "three major projects" of real estate drove 0.6 percentage points of real estate development investment. From the perspective of real estate loans, the decline in loans of domestic real estate enterprises in the first quarter narrowed by 1.2 percentage points from January to February, which is directly related to the implementation of the "white list" financing policy for real estate projects this year. This shows that under the comprehensive effect of real estate control measures, with the joint efforts of relevant departments and local governments, the effects of policies and measures to support the stable development of real estate continue to appear.
At present, the supply and demand relationship of the real estate market has undergone a major change, and market confidence still needs to be restored. Further optimizing urban regulation policies and promoting the release of housing demand are very important for stabilizing the market. (Kang Shu)
