On June 9, The Paper learned that 15 departments including the Housing Security and Real Estate Administration Bureau of Xining City, Qinghai Province, recently formulated and issued the "Several Measures of Xining City to Support Rigid and Improved Housing Demand". It shall come into effect from the date of issuance.
The "Measures" mention that the minimum down payment ratio for commercial mortgages and provident fund loans for purchasing a first home will be adjusted to 20%; the minimum down payment ratio for commercial mortgages and provident fund loans for purchasing a second home will be adjusted to 30% . Guide commercial banks to reasonably lower commercial personal housing loan interest rates to support rigid and improved housing demand. For households that purchase ordinary self-owned houses with loans, the lower limit of commercial personal housing loan interest rates for their first homes will be adjusted to no lower than the corresponding term loan market. The quoted interest rate will be reduced by 20 basis points, and the lower limit of the interest rate policy for commercial personal housing loans for second homes will be implemented in accordance with current regulations. Optimize financial services for affordable housing and support the construction of affordable housing.
At the same time, the coverage of the provident fund system for flexible employment personnel will be expanded to support the reasonable housing needs of flexible employment personnel. If both spouses pay the housing provident fund in full and normally, the housing provident fund loan limit is increased to 700,000 yuan. The issuance time of housing provident fund loans has been shortened to less than one month, and the access conditions for housing provident fund loan projects have been reduced for real estate companies with a credit rating of 4A. The main body of a single high-rise residential project can apply for a housing provident fund loan after completing 50% of the project. Comprehensively implement the "provident fund-commercial bank" portfolio loan, expand the online channel of "offset and repayment", and reduce the pressure of employees' house purchase and repayment. Actively carry out off-site loans to support the loan needs of groups buying houses in other places. Reasonably increase the amount of provident fund rental withdrawals to support depositors to withdraw on demand and better meet the actual needs of depositors to pay rent. Smooth the channels for converting commercial loans into provident fund loans. If depositors affected by the COVID-19 epidemic before December 31, 2022 are unable to repay their housing provident fund loans normally, they will not be treated as overdue, and will not be reported to the credit reporting department as overdue records.
Xining has canceled sales restrictions and suspended the restriction that newly purchased housing (including newly-built commercial housing and second-hand housing) cannot be transferred until 2 years after obtaining the real estate certificate.
In terms of housing security for talents, Xining will speed up the construction of "move-in" talent apartments, establish a hierarchical and multi-channel talent housing security mechanism, strive for relevant subsidy policies, and support the introduction of talents to settle down in Xining. We will implement the “equal promotion of renting and purchasing”, increase the construction of affordable rental housing, cultivate the housing rental market, and promote “equal rights for renting and purchasing”. If the non-residential houses used for residence are determined by the specialized unit to meet relevant standards such as one household, one meter, household metering, etc., the civilian price charging standards will be implemented. The property owner himself, his spouse and children are allowed to go through the procedures for purchasing a house and settling down.
In terms of land supply, Xining stated that it will reasonably determine the annual supply plan and supply structure of state-owned construction land, flexibly grasp the scale and pace of supply, stimulate market vitality, and promote the overall balance of market supply and demand. The right to use state-owned construction land is transferred by bidding, auction or listing. The bidding deposit shall be no less than 20% of the starting price of the listing. 50% of the land transfer price shall be paid within one month after the land transfer contract is signed. The remaining price may be paid according to the contract. It is agreed to pay in installments, and the maximum payment period shall not exceed 1 year.
For projects that support the construction of key projects in Xining, newly obtain state-owned construction land and start construction within 6 months, the image progress conditions for commercial housing pre-sale license applications are adjusted to ±0.
Xining encourages financial institutions to increase financial support for small and medium-sized real estate enterprises, high-quality real estate projects, and non-residential commercial housing sales, and not to blindly withdraw, cut off, or suppress loans, and not to apply "one size fits all". Maintain real estate development loans in a stable and orderly manner. Enterprises affected by the new coronavirus epidemic can apply for deferment of housing provident fund payments in accordance with regulations before December 31, 2022, and make back payments after expiration. During this period, paying employees can withdraw and apply for housing provident fund loans normally and will not be affected by the postponement. For real estate development companies affected by the epidemic that are unable to fulfill their obligations in commercial housing purchase and sale contracts on time, the delivery period of commercial housing can be extended appropriately, up to a maximum of 6 months.
In addition, Xining will continue to carry out rectification and standardization of the real estate market order. Formulate a guidance plan for sales price registration of newly built commercial housing in Xining. We will intensify efforts to rectify prominent issues such as abnormal real estate prices, false advertising of housing sales, and pension fraud, which are strongly reflected by the people and attract high social attention, and maintain market order and the legitimate rights and interests of housing consumers.