China securities journal reporters found that since 2022, the property market regulation policies in more than 70 cities mainly involve housing subsidies, adjustment of provident fund policies, relaxation of settlement restrictions, reduction of down payment ratio, relaxation of restrictions on sales and purchases, and reduction of loan ratio.
Many areas have played "combination boxing". Quzhou City, Zhejiang Province issued a real estate "loosening" policy, completely canceling the restrictions on sales and purchases. Families with non-local household registration who purchase newly-built commercial housing and second-hand housing in urban areas are not subject to the policy of paying social security or paying taxes for 12 months on August 7, 2002 and can only buy 1 set. At the same time, there is no restriction on the sale of newly-built commercial housing in the newly-sold plots in urban areas and newly-built commercial housing of 144 square meters or above in the sold plots.
Some areas have "loosened" the pricing of price-limited residential projects in their regions. Taking Dongguan as an example, Dongguan Housing and Construction Bureau recently issued a document to encourage projects to independently improve quality construction standards in light of actual conditions and promote residential projects to gradually achieve "high quality and good price". On the basis of meeting the basic quality indicators, the classification constraints are put forward for new commercial housing projects, and the construction costs for improving the quality construction standards are appropriately increased on the basis of the guiding price (price limit).
In terms of credit policy, Guangzhou, Suzhou and Hangzhou lowered the mortgage interest rate, and the lowest mortgage interest rate in some areas was the same as LPR.
The provident fund policy has become more flexible.
According to the incomplete statistics of china securities journal reporter, at present, nearly 20 cities such as Fuzhou, Zhuzhou, Beihai, Ziyang and Tianjin have issued provident fund policies, which mainly include increasing the amount of provident fund loans, reducing the proportion of loans, withdrawing time in advance, and allowing parents to withdraw housing provident fund to support their children to buy houses.
In terms of reducing the loan ratio, Nanping City, Fujian Province recently issued a document to adjust the use of some housing provident fund policies. The policy is clear, and the individual accounts of couples who cancel the purchase and apply for housing provident fund loans should retain the provisions on the amount collected in the last 12 months. The down payment ratio of individual housing loans for the second use of housing provident fund to purchase new ordinary commercial housing was reduced from 40% to 30%.
The Notice of Tianjin Housing Provident Fund Management Center on Issues Concerning the Purchase of the First Home and the Withdrawal of Housing Provident Fund for Affordable Housing clarifies that if employees use personal housing loans from commercial banks to purchase houses, the borrower, his spouse and parents of both parties may withdraw the housing provident fund for the down payment at one time. If an employee uses a personal housing provident fund (portfolio) loan to purchase a house, the borrower and the parents of both husband and wife can withdraw the housing provident fund at one time for the down payment.
Some areas have also played a "combination boxing" of provident fund adjustment policies. Sichuan Ziyang housing provident fund adjustment policy includes: First, increase the loan amount. The maximum loan amount is 600,000 yuan if the husband and wife of the employee family deposit the housing provident fund; If the employee's family pays the housing provident fund unilaterally, the maximum loan amount is 400,000 yuan; The maximum loan amount for the introduction of high-level talents recognized by organizations and human resources departments is 700,000 yuan. The second is to reduce the down payment ratio. Workers purchase new commercial housing (including forward housing and existing housing), which belongs to the first set of ordinary self-occupied housing, and the minimum down payment ratio is 20%; For two improved houses, the minimum down payment ratio is 30%. The purchase of re-traded housing belongs to the first set of ordinary self-occupied housing, and the minimum down payment ratio is 30%; The minimum down payment ratio for the second set of improved housing is 40%.
Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that before employees buy a house, most of the provident fund is withdrawn after buying a house. Recently, some cities can return their houses in advance, which can ease the pressure on buyers and help stabilize the market.
The overall strength of "loosening" is limited.
Statistics from the Central Plains Real Estate Research Institute show that since 2022, more than 70 cities have adjusted their property market policies. Recently, Fuzhou, Zhengzhou, Harbin, Qingdao, Guangzhou and other places have successively issued new policies for the property market. The main purpose of the policy is to promote the release of just-needed and improved demand.
According to industry insiders, the moderate adjustment of the property market policy in many places will effectively alleviate the pressure on housing funds. At the same time, the further release of housing demand will drive the transaction to rise to a certain extent, ease the inventory pressure and promote the urban economic development.
Zhang Dawei said that the cities that released heavy easing policies are basically relatively deserted areas in the property market. The hotspots and cities with large price increases have basically not been significantly adjusted.
Some areas have some leeway when liberalizing the property market liberalization policy. Suzhou adjusted the policy of restricting the sale of second-hand houses from the previous five years to three years. Li, chief researcher of Guangdong Housing Policy Research Center, believes that Suzhou's sales restriction has not been completely cancelled, but it has shortened the sales restriction period and left room for subsequent regulation. If the market rebounds obviously, it can be adjusted to 5 years again.
Some regions have introduced policies to regulate the real estate market only in a specific period. Taking Huaibei City, Anhui Province as an example, the property market regulation policy introduced there shows that during the spring housing exhibition from April 30 to May 4, individuals or families can get a maximum reward of not more than 60,000 yuan for purchasing the first set of new commercial housing, and the maximum for non-first suites is not more than 40,000 yuan; The purchase of new non-residential commercial housing can also get a maximum reward of 30 thousand yuan. In addition, local and foreign residents or enterprises can also enjoy financial incentives, credit support from financial institutions and subsidies for developing enterprises when buying houses during the exhibition. In this regard, the staff of Huaibei Housing and Construction Bureau told reporters that the policy is only effective during the exhibitions, and the specific implementation methods can refer to relevant documents.
Legal basis:
Article 359 of the Civil Code of People's Republic of China (PRC) automatically renews the contract after the 70-year property right expires.
If the term of the right to use residential construction land expires, it will be automatically renewed. The payment or reduction of the renewal fee shall be handled in accordance with the provisions of laws and administrative regulations. The renewal of the right to use non-residential construction land after the expiration of the term shall be handled according to law. If there is an agreement on the ownership of houses and other immovable property on the land, it shall be handled in accordance with the provisions of laws and administrative regulations; if there is an agreement or the agreement is not clear, it shall be handled in accordance with the provisions of laws and administrative regulations.