On the afternoon of February 1 Sunday, the long-rumored favorable real estate policy landed.

The central bank announced that in order to further support reasonable housing consumption and promote the stable and healthy development of the real estate market, according to the relevant arrangements of the State Council, in cities that do not implement the "purchase restriction" measures, households will purchase ordinary housing for the first time and apply for commercial personal housing loans. In principle, the minimum down payment ratio is 25%, which can be lowered by 5 percentage points in various places; For households that own 1 apartment and the corresponding housing loans are not settled, in order to improve their living conditions, they should apply for commercial personal housing loans to buy ordinary housing again, and the minimum down payment ratio should be adjusted to not less than 30%.

This means that the minimum down payment ratio of the first home loan for most urban residents in China is 20%, which further lowers the threshold for buying a house. The industry believes that the above policies are more aimed at domestic third-and fourth-tier cities, which helps to destock.

Since February 65438 last year, the Central Urban Work Conference pointed out that one of the five major tasks of economic and social development is to resolve the real estate inventory. Encourage real estate development enterprises to adjust marketing strategies according to market rules and appropriately reduce commodity housing prices. Some voices in the industry believe that this indicates that China's urban work will usher in major changes, and it will also have a major impact on the fate of the property market and housing enterprises. "De-stocking" has become the government's most concerned thing about the real estate market, and then all local governments have taken corresponding measures.

Ding Zuyu, CEO of Yiju China, suggested at the end of last year that the down payment ratio may activate the rigid demand to the greatest extent, which is the most significant impetus to the "destocking" of the property market. China is a savings-oriented country, the possibility of subprime mortgage crisis is very small, and the possibility of first-home credit crisis is even smaller.

Yan Yuejin, research director of the think tank center of Yiju Research Institute, believes that the introduction of this policy has actually implemented the policy orientation of "destocking". Judging from the market expectation, the only way to shake the destocking market is to continue to relax the loan policy of commercial banks. Because from many policies, including housing provident fund and other policies, it is actually at the bottom. Judging from policies such as interest rate cuts, it is basically relatively loose. There is still a lot of room for commercial banks to relax their loan policies. This policy has a positive effect on the first set of housing and improved housing groups. For the first suite, commercial bank loans changed from 30% down payment in the past to 25% down payment, which reduced the down payment ratio. For the improved buyers, in the past, they had to pay off the first set of loans to get a 30% down payment, and now they can enjoy the policy of not paying off the 30% down payment.

Considering that the central government began to propose real estate destocking last year, it is expected that the policy situation will be relaxed this year.

Source network, for reference only