Data map. China Business Network Ma Wenbo/photo
Multi-city policy for housing enterprises to solve difficulties
Affected by the epidemic, many places have introduced different property market policies to ensure that the impact of the epidemic on the real estate market is minimized. Reducing the burden of housing enterprises is the primary starting point of this round of "loosening" of the property market, including delaying the signing of land transfer contracts, delaying land transfer fees, and starting and ending times.
On February 1 1, Shanghai announced that it could apply for an extension if it failed to pay the land price on time due to the epidemic. Subsequently, 20 provinces and cities such as Wuxi, xi 'an and Foshan in Guangdong successively issued similar policies to help housing enterprises tide over short-term financial difficulties by delaying or paying land transfer fees in installments. At the same time, Wuxi announced that it can apply for pre-sale after completing more than 25% of the investment. Huadu District of Guangzhou implemented the "land acquisition certificate" and Suzhou cancelled the sale of existing homes on specific plots.
With the development of the epidemic, the contents of policies issued by some provinces began to expand to the demand side, which showed that buyers provided housing subsidies, deed tax subsidies, and reduced the down payment ratio of provident fund. For example, on March 3rd, Wenzhou, Zhejiang announced that it would continue to implement the policy of "30% off for eligible undergraduates to buy houses and 30% off for renting houses", and the first batch of 1700 suites will be launched in mid-March. Cities such as Hengyang in Hunan, Maanshan in Anhui, Xiangcheng District in Suzhou, Qingdao in Guangxi and Nanning may give housing subsidies or stimulate housing demand at the level of talent introduction.
The regulatory policies of the two places were stopped in time.
However, just as people speculated whether the real estate regulation and control efforts would be relaxed, the "loosening" policies in some cities were stopped in time, which once again reduced the market's expectation of "loosening" real estate policies.
On February 2 1, Zhumadian City, Henan Province issued the Opinions of Zhumadian Municipal People's Government on Further Standardizing and Promoting the Stable and Healthy Development of the Real Estate Industry, and issued the policy of 17 to stabilize the property market. Among them, it is proposed to reduce the down payment ratio of residents, and the minimum down payment ratio of the first home loan is reduced from 30% to 20%, making it the first city to announce a down payment during the epidemic. At the same time, the document also put forward some suggestions, such as increasing the amount of housing provident fund loans, reducing the down payment ratio of housing provident fund loans, and requiring financial institutions to appropriately reduce the interest rate of individual housing mortgage loans.
However, the file was deleted soon. On February 28th, Henan Provincial Party Committee and Provincial Government interviewed Zhumadian Municipal People's Government and reiterated that "the house is not speculation". On March 5, the relevant person in charge of Zhumadian Housing and Construction Bureau replied that withdrawing the document meant that it would not be implemented.
Guangzhou also has a "one-day tour" policy. On March 3rd, the website of Guangzhou Municipal Government published relevant documents to deal with the epidemic, and put forward 48 measures. Among them, in the field of real estate, commercial service projects (apartments, shops, office buildings) no longer limit the smallest division unit, no longer limit the sales target, and no longer limit the transfer target for registered ones. This means that Guangzhou has become the first city in the first-tier cities to fully liberalize the sales of commercial projects. But then this content was deleted.
Zou, head of the Housing Big Data Group of the Institute of Finance and Economics of China Academy of Social Sciences, believes that the above two policies are easily interpreted by the market as supporting "real estate speculation" or stimulating house purchase, which touches the policy bottom line and therefore is terminated.
Hainan province has once again stepped up its control policies.
What is more interesting is that while most cities in China have relaxed the regulation of the property market to a certain extent, Hainan Province has introduced a heavy purchase restriction policy, which makes the regulation trend of the property market under the impact of the epidemic more unpredictable.
On March 7, the General Office of Hainan Provincial Party Committee and the General Office of the Provincial Government issued the Notice on Establishing the Responsibility System for the Stable and Healthy Development of the Urban Real Estate Market, which innovatively proposed the development of affordable commercial housing with the nature of policy guarantee, mainly for families without housing or families with per capita housing area below the average level. At the same time, the notice further increased the purchase restriction and stopped selling comfortable commercial housing and market-oriented commercial housing to households and permanent residents (including couples and minor children) who already own two or more houses in Hainan Province. In addition, the notice document also clearly stated that from now on, the existing home sales system will be implemented for newly-built commercial housing. Hainan province has therefore become the first province in China to implement the system of spot sale of commercial housing.
Huo Juran, director of the Housing and Urban-Rural Development Department of Hainan Province, said that the introduction of the above policies is not to relax the regulation of the real estate market due to the impact of the epidemic, but to further implement the national requirements for establishing a responsibility system for the stable and healthy development of the real estate market and consolidate the effectiveness of real estate regulation and market stability.
Lou Jianbo, director of Peking University Real Estate Law Research Center, believes that the current sale system can prevent the emergence of uncompleted residential flats, but it is not good for the development and financing of housing enterprises. As for whether the sales of existing homes will be followed up by more cities, Lou Jianbo said that whether it is current sale or pre-sale, it should be judged according to the actual situation in different regions, which is also in line with the requirements of China's current real estate market regulation.