Another provincial capital city has completely lifted restrictions on purchasing real estate | new houses | provincial capital

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Another provincial capital city has completely lifted purchase restrictions!

On September 11th, according to Shandong Business Daily, the reporter learned from the Housing and Urban Rural Development Bureau of Jinan City, Shandong Province that Jinan City has adjusted its current real estate regulation policies and measures: canceling restrictions on purchasing houses in Lixia District and Shizhong District within the Second Ring Road.

At the same time, commercial housing can be listed for trading after obtaining the Real Estate Ownership Certificate. Effective from September 11, 2023.

Previously, on September 16, 2022, Jinan optimized its real estate policy measures and continued to implement purchase restrictions in the Lixia District and Shizhong District within the Second Ring Road. At that time, a staff member from the Jinan Real Estate Trading Hall said, "Except for these two areas, there is no need to review and restrict purchases in other areas."

Based on this, Jinan has now fully lifted purchase restrictions throughout the region.

9 cities nationwide have completely lifted purchase restrictions

Following closely behind Jinan, Qingdao has also completely lifted purchase restrictions.

According to the "Qingdao Housing and Urban Rural Construction" report on September 11th, in order to implement the decisions and deployments of the Party Central Committee and the State Council, and implement policies tailored to the city, we will make good use of the policy toolbox, promote the stable and healthy development of the real estate market in the city, and better meet the rigid and improved housing needs of residents.

1、 Adjust housing purchase restriction areas. Move the Shinan and Shibei districts out of the restricted purchase area and cancel the restricted purchase policy across the entire area.

2、 Optimize the listing and trading period of housing. Within the scope of this city, commercial housing can be listed for trading after obtaining the Real Estate Ownership Certificate.

As of September 11th, according to incomplete statistics from Fund Jun, 9 cities including Dongguan, Foshan, Shenyang, Jiaxing, Dalian, Nanjing, Lanzhou, Jinan, Qingdao, etc. have completely lifted their purchase restriction policies, while nearly 30 cities such as Zhengzhou, Xiamen, and Changsha have optimized their policies for specific regions or groups.

According to Guan Rongxue, a senior analyst at Zhuge Data Research Center, firstly, from a policy perspective, lifting purchase restrictions and lowering the threshold for purchasing a house means that previously ineligible homebuyers will regain their eligibility to enter the market, which will release a batch of purchasing demand, boost transaction activity, and have important significance for destocking and driving market vitality. At the same time, the lifting of sales restrictions will accelerate the circulation of houses in the market, and significantly relax the restrictions on changing houses, which is conducive to improving the release of demand and increasing market activity. Moreover, the comprehensive cancellation of purchase and sales restrictions has been followed by the recent central bank's guidance on the down payment ratio of mortgage loans and the decline in stock mortgage interest rates, once again releasing a heavyweight positive signal, which has played a significant role in consolidating market confidence and sentiment.

Secondly, based on the performance of the real estate market, in August 2023, the monthly transaction volume of new houses in Jinan continued to decline, while Qingdao showed some resilience in turning from a decline to an increase. The cumulative transaction volume in the first eight months of the two cities was lower than the same period last year. According to monitoring data from Zhuge Data Research Center, from January to August 2023, Jinan and Qingdao respectively sold 43273 and 69518 new residential properties, a decrease of about 2.2% and 11.3% compared to the same period last year.

Meanwhile, according to the market sentiment index established by Zhuge Data Research Center, since the beginning of this year, the Jinan sentiment index has entered a continuous downward trend after a slight rebound in February. In August, the Jinan sentiment index dropped to -0.85, entering the market downturn range; The Qingdao sentiment index has been continuously declining since the beginning of the year, entering a market downturn range since April, and the sentiment index dropped to -0.89 in August. The downward pressure on the market has been exposed, and the urgency of implementing loosening policies to boost the real estate market has increased.

Zibo launches "trade in old for new"

The phone is out of call

In addition to the complete lifting of purchase restrictions, Zibo's new promotion measure of "exchanging old for new" in the real estate market has also attracted market attention.

On September 6, the official account of Zibo Daily announced that the local government will launch the "old for new" activity of house purchase, that is, old houses for new houses. Through the joint efforts of real estate development enterprises and real estate brokers, the sale of existing houses will be accelerated. After the buyer pays the intention deposit for the new house project, the real estate brokerage agency verifies, inspects, and conducts actual surveys on the existing housing, and the intended customer can complete the new house purchase procedures.

Simply put, in the urban area of Zibo, existing property owners can participate in the "old for new" process through the following basic procedures: first, communicate with real estate brokerage firms about replacement needs and sign service contracts, then choose new properties to cooperate with real estate brokerage firms and lock in their desired new properties. Next, real estate development companies, real estate brokerage firms, and homebuyers will sign a tripartite agreement and pay a deposit of interest for the new house. Real estate agencies will verify, inspect, and conduct on-site investigations on old houses, and finally complete the purchase procedures for new houses.

According to Time Weekly, after the new policy was announced, the phone numbers of intermediaries were all knocked out.

On the afternoon of September 8th, a reporter from Time Weekly called several real estate agents in Zibo regarding the measure.

A reporter from Time Weekly called an intermediary store in Zibo as a homebuyer, and the real estate agent Wang Jie said that "exchanging old for new" refers to customers being able to book a house first. After receiving the deposit, the developer will keep the house for the customer for a period of time, during which the customer will sell their old house.

If you sell it during this period, you need to take the down payment and then go to the new house developer to pay the down payment or the full amount. If it cannot be sold, he can refund the deposit to you. Wang Jie explained.

Jiang Qi stated that in the past few months, he has received an average of 3-5 home purchase consultation calls per day. Since the launch of the "trade in" promotion, he has received 10 to 20 home purchase consultation calls per day, with the number increasing 3-4 times.

However, Jiang Qi also stated that most customers have no intention of purchasing a house after the consultation.