Regarding the supervision of the pre-sale of commodities, Chengdu has already issued a relevant policy in 2009 and revised it in 2015. This time the release of the new version of the "approach", regulatory efforts are very strong, the measures are also very detailed, in place, can effectively protect the rights and interests of buyers after the purchase of homes.
Half a month ago, the relevant departments of the Chengdu government for the real estate market control means frequent, from the supply and demand for both sides of the hand, the successive "limit the price of land + limit the price of the double restriction of the land", "revise the rules of the commodity housing shaking" and other combinations of punches.
Why did Chengdu recently tighten the regulation of the property market? Comprehensive feedback from industry insiders, the recent rise in housing prices in Chengdu highlights the seedling, consumer enthusiasm to buy a house; land transaction prices, real estate enterprises to buy land enthusiasm is also high. The property market fundamentals are good behind, the market foundation is solid?
In September this year, a financial institutions in Chengdu prohibited to Hutchison Whampoa Real Estate (Chengdu) Co., Ltd. to provide new financing, loan news caused a sensation, but also tore open the real estate enterprises in Chengdu previously "hoarding", "covering the sale of property" and other The iceberg tip of the real estate enterprises to make high profits in Chengdu. Hutchison transferred a piece of land it owned in 2014 to Yuzhou Group, making a direct profit of 3.8 billion yuan.
After the domestic epidemic stabilized this year, Chengdu joined the property market rebound army, and many properties began to see buyers queuing up to enter the sales department to see model homes. A number of properties began to shake, and even appeared "10,000 people shake".
Chengdu has a division of the winning rate, respectively, the demolition, just need, ordinary and other categories. In the general category of the lottery winning rate, the lowest only 0.62%. Hot properties are basically one and two hand upside down disk. For example, Qingyang District, outside the Guanghua Greenland Xinli City, the average price of 17,400 yuan / square meter, 54 suites of sources attracted more than 3,000 people lined up, ordinary winning rate of only 0.62%.
Evergrande Tianfu Peninsula, Tianfu New District, 360 suites, average price of 12,500 yuan / square meter, online registration on the first day of more than 3,000 groups of customers, the final number of people involved in the numbering of 11,129, the average winning rate of 3.23%.
The East Second Ring's Capital Sky Jubilee, with an average price of 21,000 yuan/square meter, ***321 suites, attracting more than 1,000 groups of customers to participate in the lottery.
After the epidemic, the suppressed demand gushed out, and although there are some properties in Chengdu that canceled the lottery due to insufficient enrollment, the property market turnover is still on an upward trend because of the existence of properties with first- and second-hand upside down.
In such a market status quo, the market disorder also occurs frequently, "charge tea fee", "full payment is not filed", "developers independent shakedown fraud" and so on will also appear In some poorly regulated projects. The fact is, the unfair market environment is the biggest damage to the consumer's interests.
Xie Mengxian, an analyst at the Tongze Research Institute, believes that in 2015, the Chengdu government also issued a policy on the supervision of pre-sale funds, requiring real estate enterprises to be supervised by 1.1 times the total amount of construction funds, and before obtaining the "Engineering Completion and Acceptance Record Form," can only be used for the construction of the project construction of the necessary building materials, equipment purchases, such as civil engineering costs, equipment installation costs, and other costs of construction, and may not be diverted to other costs of construction. and other costs of construction, may not be diverted to other uses.
The newly introduced approach to the supervision of commercial real estate advance receipts will be supervised by a bank account supervision system for the supervision of advance sales, and the amount of advance sales supervision is linked to the credit rating of the development enterprise. For the credit good big real estate enterprises, pre-collection supervision is more relaxed, in the construction of each progress node for the use of pre-sale money is more flexible. For home buyers, the pre-collection regulation will minimize the possibility of rotten houses, reduce the risk of purchasing period houses, provide a greater protection.
According to the official information released by the Chengdu housing construction, in order to protect the pre-sale of commercial housing project construction to maintain the legitimate rights and interests of home buyers, Chengdu, the relevant departments of the pre-sale of money for the whole process of supervision. Pre-sale payment refers to the real estate development enterprises will obtain the pre-sale of commodity housing license and not complete the project and joint completion and acceptance of the house pre-sale to the offtaker, by the offtaker according to the pre-sale of commodity housing contract agreed to pay all the purchase price. "The pre-sale money all into the special management account, the supervision of the amount of pre-sale money within the implementation of the node balance management", this article for the Chengdu real estate industry is the most direct impact.
The whole process of supervision of the pre-sale of money, simply put, is for the period of the sale of real estate, in order to prevent the developer at will to dominate the misappropriation of pre-sale of money, to protect the construction of commercial real estate to prevent the "rotten", to protect the rights and interests of the buyers of the administration and financial institutions of the pre-sale of real estate collected by the developer's supervision of the money.
Insiders pointed out that because of the regulated funds, real estate companies can still use, which is equivalent to the enterprise on a tightrope. In the policy introduced in 2015, the housing and construction sector is only responsible for the development of regulatory rules, the supervision of pre-sale of commercial real estate only "guidance, supervision"; the Measures clearly stipulate that the regulatory agreement shall be signed by the developer, the Housing and Construction Bureau and the bank tripartite **** with.
The strong involvement of the housing and construction sector, the bank basically becomes a custodian of the funds of the "tool man", shall be authorized by the housing and construction sector to the developer to allocate regulatory funds. This operation can effectively avoid the developer to misappropriate the pre-sale money, reduce the developer due to the capital break and the risk of the building "rotten".
For the house price, the "Measures" stipulates that the total listed price of commercial real estate pre-sale as a benchmark, when the project reaches plus or minus zero, the amount of supervision is not less than 25%, the rest of the stage, the amount of supervision is not less than 15%. Commodity housing pre-sale of the total listed price as a benchmark for the provisions, can play a role in preventing the listing price of the property is inflated. It was revealed that at present, some commercial office projects in Chengdu are actually sold for 10,000 yuan / sq. ft. but the developers are registered in the housing and construction departments to list at 50,000 yuan / sq. ft. or even higher.
"Measures" provides for the supervision of pre-sale payment period, to start from the property to take the pre-sale, to the centralized delivery to the end, covering the buyer from the purchase of the house to the delivery of the whole process. Because of the centralized delivery to the end of the pre-sale supervision, which forces developers have to include landscape, public areas, decoration and other engineering quality and details to do better. If the product is made "not the right board", by the owners of the general complaints, developers want to get the "end of the money" is not so simple.
Chengdu industry veterans analyze, "Measures" provides for the participation of the administration in the supervision of the specific implementation, better ensure that the developers earmarked to reduce the risk of rotten end of the property; regulatory period extended to the centralized delivery of the property, the equivalent of the developers pressed a delivery of the end of the payment to force the developers to put a good quality of the project, which is for the next three years, took the high-priced land is very important to the real estate companies, once If you are not able to get the final payment for a shoddy construction, there is a risk that you will not be able to get the final payment; the amount of supervision is linked to the developer's credit rating, which will reduce market disorder and help establish a fairer market trading environment; in the case of foreign developers who set up a branch office in Chengdu, the branch office's construction funds can be effectively utilized in the local project to prevent the group's headquarter from withholding and diverting the money from the construction of the project in Chengdu. Some of the "branch has no money and had to cut corners" will be greatly improved, and ultimately will benefit the Chengdu home buyers, reducing the worries of home buyers.
More importantly, Chengdu this time in the pre-sale funds supervision of the "tail" system, for the real estate enterprises cash flow is very big, which is like through the setting of "conditions" to force the real estate enterprises to speed up the pace of development, strengthen the internal operation system, The company has been able to improve the quality of management of the project. It also means that the possibility of real estate companies covering up will be greatly reduced.
A real estate company that has been working in Chengdu for many years said that after the three red lines, the industry's deleveraging will be the trend, forcing developers to work on product quality in order to improve the yield of individual projects.
From the recent Chengdu land market, there is an imbalance between supply and demand in the market. Data from the Central Index Institute shows that in November 2020, the city's commercial residential turnover area in Chengdu rose year-on-year, with a turnover of 1,998,000 square meters, up 59.1 percent year-on-year, up 7.6 percent year-on-year. The central city of Chengdu, however, was slightly under-supplied, with 973,000 square meters of supply in the central city, down 3.6% sequentially and 60.3% year-on-year. The inventory of commercial residential units in the central city was 15.911 million square meters, down 1.9% from a year earlier and down 16.3% year-on-year. The clearance cycle was 10.2 months, narrowing by 5.5 months compared with the same period last year. Putting it into the perspective of the greater Chengdu region, the cycle is also at 10.5 months, narrowing by 3.6 months compared with the same period last year.
However, the land supply in Chengdu is starting to rise, while the transaction volume is starting to go down. 33 residential sites were launched in Chengdu in November, about 1.398 million square meters, up 2.8% year-on-year, and 83.8% year-on-year; and 20 residential sites were handed over, about 892,000 square meters, down 32.7% year-on-year, and up 66.0% year-on-year. At this time of year, land prices are rising year-on-year.
The reason for this is that "there are some land in Chengdu that has been covered up for a long time, and has been rotting; and the newly acquired land is frighteningly expensive." A real estate company believes that "as the southwest center of the city, Chengdu has long been the various real estate enterprises to fight for a place, the high price of land is really not earn money, especially in the main city, the developer lifted to the end of most of the developers to give up."
In the past, real estate enterprises through a large number of land hoarding, reduce the cost of holding, and now I'm afraid that with the change in the development model, the hands of the land will be transformed into risk. Nandu Big Data Institute to monitor 65 large-scale real estate enterprises, hoarding the most real estate enterprises have more than 240 million square meters of total land reserves. Industry insiders believe that Chengdu's new policy for real estate enterprises to develop mode of knocking, no less than Hangzhou.
As with the Hangzhou market, in the past two years, the Chengdu market land auction prices rose, real estate profits have been compressed, but many real estate companies in Chengdu to take the land as in Hangzhou to take the land, "as long as the march into Chengdu, the whole Sichuan know that I into Chengdu, into Sichuan, into the West, to save how much advertising costs." A Chengdu foreign real estate enterprises said.
Chengdu, this market is not only foreign real estate enterprises to target, the local state-owned capital is also actively involved in the land auction market. December 1, Chengdu launched four pure residential land sale, all located in the main city of the mature area, letting the area of a total of 113 acres. Among them, jinjiang district **** launched 2 land, starting floor price of 16800 yuan / square meter, the most intense bidding is the jinjiang district, the second land, and finally was jinjiang united construction joint huafa bid, bidding for "19300 yuan / square meter + gratuitous transfer of 23% of the co-ordination of the housing," Qixinbao data show that jinjiang united construction for the Jinjiang District, Chengdu City, State-owned Assets Supervision and Administration Bureau 100% holding enterprises.
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