According to the adjustment plan, Jinan will implement three adjustment policies, involving the scope of purchase restriction, sales restriction conditions and the amount of provident fund loans. Specifically, Changqing District and Zhangqiu District are no longer included in the scope of purchase restriction; Adjust the restrictions on the sale of listed transactions from two years after obtaining the property right certificate to two years after signing the regional housing network; Purchase the first set of ordinary self-occupied housing in the administrative area of Jinan and apply for housing provident fund loans. The maximum loan amount for an employee's family who pays the housing provident fund for one person will be raised from 300,000 yuan to 350,000 yuan, and the maximum loan amount for an employee's family who pays the housing provident fund for two or more people will be raised from 600,000 yuan to 700,000 yuan.
In May 18, in April 2022, the sales price changes of commercial housing in 70 large and medium-sized cities were released. Second-hand houses in Jinan have been falling for eight years in a row, and new houses have been reduced in price again after four months.
Regarding Jinan's policy adjustment, a person familiar with the introduction of the policy said that the three property market policy adjustments introduced by Jinan were based on the principle of "housing and not speculating", releasing reasonable housing demand, solving the rigid demand of buyers and reducing the pressure of buying houses. This is also in line with the relevant policies recently issued by the central government.
On April 29th, the Political Bureau of the Central Committee held a meeting. The meeting pointed out that it is necessary to adhere to the positioning that houses are used for living, not for speculation, support local governments to improve real estate policies according to local conditions, support rigid and improved housing demand, optimize the supervision of pre-sale funds of commercial housing, and promote the stable and healthy development of the real estate market. As soon as the central policy came out, 22 key housing price monitoring cities across the country successively "loosened" the property market.
The above-mentioned people said that the property market in Changqing District and Zhangqiu District of Jinan was overheated in the short term in 20 17, but the population introduction in these two districts was insufficient, and a large number of shed reform projects were about to be launched. If house prices were allowed to soar at that time, the market would be difficult to support and house prices might fall soon. Changqing District and Zhangqiu District belong to the non-core urban areas of Jinan. Now that the market has been falling continuously, if the purchase restriction is released, the house price should not fluctuate greatly. Judging from this round of policy adjustment in 22 key cities in China, it is generally aimed at the adjustment of urban non-core areas.
At present, more than half of the 22 key cities in China have begun to "loosen" the property market. Many of these cities have reduced the sales restriction of listed transactions from five years to two years. However, this adjustment in Jinan has changed the restrictions on the sale of listed transactions in the restricted purchase area from two years after obtaining the property right certificate to two years after signing the house online.
Generally speaking, it takes more than one year for commercial housing to sign online and obtain the title certificate of immovable property. If calculated according to the standard of obtaining the certificate of immovable property for two years, it will take three or four years for a commercial house to be sold again. As for why it is still necessary to set a two-year period on the whole, this person analyzed that on the one hand, it has an important guarantee for housing and not speculating, on the other hand, it can also reduce the cycle of listing and trading, which is conducive to promoting a virtuous circle of the market.
Following May 15, the central bank adjusted the lower limit of the interest rate of the first set of commercial personal housing loans to not less than the quoted interest rate (LPR) of the loan market in the same period minus 20 basis points, on May 20th, the LPR for five years and above was adjusted to 4.45%. At present, the lowest personal housing loan interest rate in Jinan can reach 4.25% for the first suite and 5.05% for the second suite.
The adjustment of the loan amount of provident fund is related to the overall scale of housing provident fund paid by enterprises and institutions in Jinan. The adjustment of the loan amount of Jinan provident fund is beneficial to support the rigid and improved housing demand and reduce the repayment pressure of buyers.
According to the plan of this policy change, it is expected that Jinan will adjust the above three property market regulation policies on May 23rd.