Observation on optimizing control policies in various places to boost housing consumption

　　Xinhua News Agency, Beijing, February 13th (Reporter Zheng Juntian, Wang Youling) Recently, the interest rate of the first home loan was reduced to below 4%. According to incomplete statistics, nearly 30 cities have adjusted the interest rate of the first home loan in 2023. Optimizing the purchase restriction, reducing the down payment, subsidizing taxes and fees, and increasing the loan amount have gradually become the "standard configuration" for the optimization of regulatory policies.

　　A number of policies are favorable for superposition. From the performance of real estate markets in various places in January, the second-hand housing market in some cities has shown signs of recovery. Industry insiders call on all localities to continue to optimize policies, vigorously support rigid and improved demand for housing purchase, and promote the stable and healthy development of the real estate market.

Continuously optimize real estate control policies in many places.

　　Recently, many places have intensively introduced new real estate control policies.

　　— — Reduce the cost of buying a house. On January 5th, the Central Bank and China Banking and Insurance Regulatory Commission issued a document and decided to establish the first dynamic adjustment mechanism of housing loan interest rate policy. Up to now, nearly 30 cities have adjusted the interest rate of the first home loan, and many second-tier cities have begun to implement the policy of the lowest interest rate of the first home loan of 3.8%; In some third-and fourth-tier cities, the interest rate of the first home loan of individual banks has started to be implemented at 3.7%.

　　Some areas also implement tax and fee subsidies to support specific groups to buy houses. Urumqi introduced a new policy, and buyers who buy new houses below 130 square meters for the first time enjoy 50% deed tax subsidies; Xingyang City, Henan Province, gives a maximum subsidy of 100,000 yuan to eligible young people who buy houses for the first time, and can enjoy 30% to 40% deed tax subsidy for buying houses before June 30; Lu ‘an City, Anhui Province stipulates that families with many children can enjoy 50% deed tax subsidy when they buy new houses below 144 square meters.

　　Some cities also send coupons when buying a house. On February 4th, Haishu District of Ningbo launched the activity of "buying a house to send coupons for cars and household appliances" with a total amount of 20 million yuan. A single set of coupons with a maximum value of 180,000 yuan can be sent, and buyers can buy cars and household appliances at the designated merchants in the district with the coupons, which are valid for three months.

　　— — Lower the threshold for buying a house. Optimize the purchase restriction policy in many places, and suspend the implementation of the housing purchase restriction policy in Dongguan and Xingyang; Some second-tier cities allow groups that meet certain conditions to buy third suites. Changsha stipulates that families with two or more children can buy houses, which can increase a set of housing purchase indicators.

　　In addition, second-and third-tier cities such as Changsha, Jinan and Shaoxing have increased the amount of provident fund loans for specific buyers. For example, Shaoxing has increased the amount of provident fund loans for two-child and three-child families by 20% and 30% respectively.

　　— — Make it easier to buy a house. In order to speed up the purchase process, so that consumers can buy with peace of mind, many places have implemented the "certificate upon delivery". For example, according to the regulations of Henan Province, from January 1st, all pre-sale commercial housing projects that have newly acquired the right to use state-owned construction land within the planning scope of the whole province will fully implement the "certificate upon delivery" to effectively solve the "difficulty in obtaining a certificate" of immovable property right certificates that people are concerned about.

　　Shenzhen, Wuhan and other places support the "transfer with mortgage" of second-hand houses: in the transaction of second-hand houses, buyers and sellers can choose the "transfer with mortgage" mode of second-hand houses when the seller has not paid off the loan and the mortgage has not been lifted, thus speeding up the transaction process of second-hand houses.

The second-hand housing market in some cities shows signs of recovery.

　　The second-hand housing market is often regarded as a "barometer" of the property market. Ding Zuyu, CEO of Yiju Enterprise Group, said that since the third quarter of 2022, the second-hand housing has stabilized faster than the new housing market. In January 2023, the national second-hand housing market also maintained a certain transaction heat.

　　According to the data of Kerui Research Center, the transactions of second-hand houses in 11 key cities across the country increased by 29% compared with last year’s Spring Festival, showing signs of recovery. Judging from the transaction data, the transaction volume of second-hand houses in Qingdao and Dongguan both achieved positive growth year-on-year, and the transaction volume in 9 cities including Chengdu, Suzhou, Foshan, Hangzhou and Shenzhen exceeded that in February of the Spring Festival in 2022.

　　According to the statistics of RealData, the price index of second-hand houses in Shell 50 City rose by 0.2% month-on-month in January, which was the first time since the month-on-month decline in August 2021. About 60% of the 50 cities stopped falling in January, covering key urban agglomerations such as Beijing-Tianjin-Hebei, Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area and Chengdu-Chongqing.

　　The data shows that since the Spring Festival holiday, the volume and volume of second-hand housing in 50 key cities have improved significantly. The daily average transaction volume of second-hand houses in 50 key cities is more than 30% higher than that before the Spring Festival, and the daily average number of customers is more than double that before the Spring Festival.

　　It is noteworthy that some third-and fourth-tier cities show long-lost signs of rising demand for home ownership. According to the statistics of Kerry Research Center, during the Spring Festival, third-and fourth-tier cities turned red against the trend, and the residential transaction volume of 28 third-and fourth-tier cities increased by 13% year-on-year.

　　Yang Kewei, deputy general manager of Kerui Research Center, said that the third-and fourth-tier cities in northern Jiangsu, southwest China and other regions ushered in the climax of "returning home", and some developers superimposed on low down payment, special rooms, big discounts and other multiple concessions to let buyers. Recently, there have been many hot-selling projects.

　　In a new building in Huainan, Anhui, the salesperson told the reporter: "We mainly focus on the products we just need, and the down payment ratio and interest rate of the first suite are reduced, so that more people have ‘ Get on the bus ’ The possibility. "

　　The industry believes that although the property market in some cities has shown signs of improvement, for more cities, after the deep adjustment in 2022, the market expectation is still relatively low, and the property market has yet to pick up. The TOP100 List of China Real Estate Enterprises Sales in January 2023 released by Kerui shows that the sales of the top 100 real estate enterprises in January were still sluggish, and the sales scale decreased by 33% year-on-year. The agency’s analysis believes that the sharp decline in sales is due to the inertia of the cooling trend of the property market; On the other hand, the unsalable projects of individual real estate enterprises have also lowered the overall data.

Increase confidence, stabilize expectations and boost housing consumption

　　In January, many places mentioned encouraging housing consumption in the economic boost plan. Industry insiders suggest that all localities should take measures to increase confidence, prevent risks and promote transformation as the main line, boost the confidence of housing enterprises, buyers, new citizens and young people, vigorously support the demand for rigid and improved housing, and promote the stable and healthy development of the real estate market.

　　Many people in the industry suggest that in cities with high inventory and net population outflow, local governments can encourage housing enterprises to improve housing quality and let ordinary people live in good houses. The person in charge of marketing in Jiangsu, a nationwide mixed-ownership company, said, let market players impress customers with good products, good services and good communities, fully release the demand for improved customers to buy houses, and realize the survival of the fittest.

　　For the third-and fourth-tier cities and the outer suburbs of first-and second-tier cities where the supply exceeds demand and there is obvious pressure to de-transform, many people in the industry suggest adjusting the purchase restriction policy in a timely manner, such as reducing the requirements for the social security payment period of non-registered families; Accelerate the settlement of talents and support their purchase consumption.

　　Chen Xiaotian, chairman of Yihan think tank, suggested that the policy of restricting loans should be relaxed to support the normal demand of those who just need to buy houses and change houses. Cities that "recognize houses and loans" can be gradually adjusted to "recognize houses but not loans", that is, as long as there is no house under the family name, regardless of whether there is a loan record in the past, the first home loan policy should be implemented when buying houses to expand residents’ purchasing power.

　　The industry believes that where conditions permit, the pre-sale system reform can be implemented and existing homes can be sold. Continue to implement pre-sale, we must put the responsibility of fund supervision in place to prevent funds from escaping and prevent new risks of property delivery.

　　Some people in the industry pointed out that with the gradual stabilization of the market, hot cities such as Beishangguangshen and Shenzhen may face a new round of rising housing prices, and relevant policy adjustments should be cautious. If the price rises sharply due to the relaxation of regulatory policies, it will further increase the burden on buyers and may trigger new bubble risks.