On July 6, 2022, Shenzhen Housing and Construction Bureau revised the Regulations on the Management of Housing Provident Fund Loans in Shenzhen, and formed the Regulations on the Management of Housing Provident Fund Loans in Shenzhen (draft for comments) (hereinafter referred to as the draft for comments), which was open to the public for comments. The biggest highlight of this revision is the addition of immediate family members among the joint applicants for provident fund loans.
According to the opinion draft, employees who have paid housing provident fund in Shenzhen shall apply for provident fund loans as applicants in accordance with these regulations. The spouse, parents and children of the applicant may be co-applicants. If the applicant's spouse, parents and children are buyers, they are joint applicants.
This means that if the "Opinion Draft" is finally implemented, Shenzhen is also expected to become a city of "one person buying a house and helping the whole family". Before Shenzhen, Tianjin, Zhuhai and a number of third-and fourth-tier cities also carried out similar optimization of provident fund policies, with the ultimate goal of stimulating reasonable housing demand and boosting consumer confidence.
Allowing immediate family members to jointly apply for provident fund is a new change in the real estate market this year. The background of its introduction is that it will take some time for the real estate industry to recover continuously this year, and some effective purchasing power cannot be released. Therefore, various localities have made moves to activate this part of demand. However, although it aims to stabilize the property market, it remains to be seen whether the provident fund policy, as a relatively terminal real estate policy, has a positive role in promoting the market.
The whole family went into battle.
There are many bright spots in Shenzhen's adjustment of provident fund loans.
According to the Opinion Draft, for Shenzhen registered employees who are employed in different places and pay housing provident fund, if such employees or their spouses buy the first set of self-occupied housing in Shenzhen, they can apply for provident fund loans from Shenzhen Provident Fund Center with the payment certificate (including payment details) issued by the Employment Provident Fund Center.
In addition, it is also clear in the opinion draft that the applicant's spouse, parents and children can be co-applicants, regardless of whether they have paid the housing provident fund. The maximum amount of loans for individual applications is 500,000 yuan, and the maximum amount for joint applications is 900,000 yuan; However, if the applicant and the co-applicant who calculated the loanable amount have not withdrawn the provident fund for more than three consecutive years before applying for the provident fund loan, the loanable amount of the provident fund loan may rise by 10%.
A Shenzhen marketer told the reporter of 265438+20th Century Business Herald that the previous conditions of Shenzhen provident fund policy for co-applicants of loans needed to meet the requirement that both husband and wife had paid in Shenzhen for more than half a year before they could jointly apply for 900,000 yuan. If it doesn't meet the requirements, there will only be a quota of 500,000. This time, they can include their immediate family members as co-applicants, even white households without deposits, which is equivalent to increasing the loan amount.
Li, chief researcher of the Housing Policy Research Center of Guangdong Urban Planning Institute, pointed out that housing prices in Shenzhen are still at the highest level in history, but some people lack confidence in future income and expectations. Perfecting the provident fund policy, especially the form of "family help", can not only improve the down payment ability, but also improve the monthly payment ability and reduce the monthly payment burden, which is the starting point and the end result of policy adjustment.
In fact, except Shenzhen, about 15 cities have optimized their provident fund policies this year.
The most recent one was Tangshan, Hebei.
According to the latest notice issued by Tangshan Housing Provident Fund Management Center, the "one person buying a house for the whole family" was launched, and all employees who bought a house in Tangshan on June 1 this year can enjoy this policy. July 2022 15 began to handle the new policy.
This policy stipulates that the parents of single employees who borrow money to buy a house can provide loan repayment assistance as co-payers; When a married employee borrows money to buy a house, both parents can provide loan repayment assistance as co-payers. Parents borrow money to buy a house, and if both husband and wife have children or married children, they can provide loan repayment assistance as co-payers.
However, although the original intention of using the immediate family provident fund loan line is to support the reasonable needs of property buyers, there is also the possibility of change.
A real estate analyst who did not want to be named pointed out that the provident fund was originally intended to provide protection for residents' housing needs. However, if immediate family members are also allowed to withdraw help to repay the loan, it may break through the scope of individual housing payment. If there are no restrictions on the withdrawal of the provident fund, it may lead to the reduction of the water level of the provident fund, which is not conducive to other people with housing needs to use the provident fund loan to buy a house.
Awakening effect to be measured
Even though the provident fund policy is the last real estate policy, its background is still related to the current depressed market environment.
As Tangshan said in the policy interpretation, the purpose of optimizing the provident fund policy is to promote the healthy and stable development of the local real estate market. In addition, we can also increase the loan amount of housing provident fund to enhance security and mutual assistance, and awaken the "sleep fund" to turn the "hidden supplement" of families into the "explicit supplement" of using housing provident fund.
The real estate market in Tangshan has been quite dull this year.
According to World Bank statistics, in May 2022, the average transaction price of commercial housing in the main urban area of Tangshan was 14367 yuan/square meter, down 3% from the previous month and 2 1% from the same period last year. The effective inventory de-chemical cycle is 7 1.0 1 month, 6 months more than last month.
As the first first-tier city to launch the provident fund "family help" this year, Shenzhen's real estate market is also at a low ebb.
According to the data of Leyoujia Research Center, in the first half of 2022, only 9,965 sets of second-hand houses were sold in Shenzhen, down nearly 65% year-on-year, the worst performance since 2007, down 52% from the first half of 2008.
People in the industry generally believe that it is almost impossible for Shenzhen, as the youngest city in the first-tier cities, to loosen the housing purchase policy substantially, and the provident fund, as a flexible policy, should be adjusted appropriately to meet the current market performance.
In fact, judging from the market performance of the cities that adjusted the provident fund policy before, the activation effect of the provident fund policy on the real estate market demand remains to be seen.
Zhuhai, Guangdong is the first city to launch the provident fund policy of "one person buying a house and helping the whole family".
On June 3rd, Zhuhai issued the Work Plan of Giving Full Play to the "Industry First" Role of Housing Provident Fund Support Services, in which it was proposed that employees who paid in Zhuhai could withdraw 90% of their account balance to help their immediate family members (spouses, parents and children) pay the down payment, or they could withdraw their provident fund on a monthly basis according to the loan repayment situation to help their immediate family members (spouses, parents and children) repay the house purchase loan.
However, even with the support of policies such as provident fund policy, Zhuhai's property market performance last month was still limited.
According to the statistics of Hefei Research Institute, in June 2022, Zhuhai signed 28 13 sets of commercial housing online, down 5% from the previous month. Among them, the residential network sign was 242 1 set, up16% from the previous month; 86 sets of commercial networks were signed, down 25% from the previous month; 306 sets of office buildings were signed online, down 60% from the previous month.
A developer in Zhuhai also said in an interview with 2 1 Century Business Herald that it is difficult for various policies to help the market now, "mainly because there are no customers."
Li also reminded that the way directly affiliated relatives such as Zhuhai and Tangshan withdraw the provident fund to help repay the loan has a certain effect on activating the market, because under this regulation, it helps to reduce the threshold for buying a house and the pressure on monthly supply. "Although there is support, for market demand, the focus should be on new citizens. The amount of provident fund paid by these first-time home buyers will not be too large, so the support for down payment and monthly payment is not so optimistic. "