Beijing and Shenzhen have successively stated that they will focus on implementation and adjust and optimize real estate policies in a timely manner to adjust real estate policies
After the Central Political Bureau meeting set the tone to "adjust and optimize real estate policies in a timely manner" and the Ministry of Housing and Urban Rural Development clarified the direction of policy support, many regions have begun to implement it urgently, and first tier cities such as Beijing and Shenzhen have successively expressed their opinions.
On the evening of July 29th, the Beijing Municipal Commission of Housing and Urban Rural Development stated that it will combine the actual situation of the Beijing real estate market, work together with relevant departments to quickly implement the work, strongly support and better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the Beijing real estate market.
Industry insiders believe that the statement made by the Beijing Municipal Commission of Housing and Urban Rural Development is of great significance, indicating that Beijing will have relaxed measures in its housing policy in the near future.
On July 30th, the Shenzhen Housing and Urban Rural Development Bureau also stated that it will combine the actual situation of Shenzhen's real estate with relevant departments, central agencies in Shenzhen, and various districts to implement and better meet the rigid and improved housing needs of residents.
It is reported that on the afternoon of July 28th, Hefei City held a special meeting on the real estate industry, clarifying the need to quickly improve ten work measures and promote the stable and healthy development of the real estate market through innovative measures.
Beijing plans to strongly support the demand for rigid and improved housing
On the evening of July 29, the official official account of the Beijing Municipal Commission of Housing and Urban Rural Development "Live in Beijing" announced that Beijing would better meet the demand for rigid and improved housing and promote the steady and healthy development of the real estate market in Beijing.
The Beijing Municipal Commission of Housing and Urban Rural Development stated that the Party Central Committee and the State Council attach great importance to the stable and healthy development of the real estate market. On July 24th, the Central Political Bureau meeting pointed out that in order to adapt to the new situation of significant changes in the supply and demand relationship of China's real estate market, timely adjustments and optimizations of real estate policies should be made, and the policy toolbox should be well used for urban policies to better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the real estate market.
The Beijing Municipal Commission of Housing and Urban Rural Development stated that recently, the Ministry of Housing and Urban Rural Development held a symposium for enterprises. At the meeting, Minister of Housing and Urban Rural Development Ni Hong stated that she will continue to consolidate the stabilization and recovery trend of the real estate market, strongly support the demand for rigid and improved housing, and further implement various policy measures; Continue to do a good job in ensuring the delivery of buildings, accelerate the delivery of project construction, and effectively safeguard the legitimate rights and interests of the people.
The Beijing Municipal Commission of Housing and Urban Rural Development stated that it will seriously study and understand the spirit of the Central Political Bureau meeting, follow the requirements of Ni Hong's speech at the enterprise symposium, adhere to the overall tone of seeking progress while maintaining stability under the leadership of the Municipal Party Committee and Municipal Government, combine with the actual situation of the Beijing real estate market, and work together with relevant departments to quickly implement the work, strongly support and better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the Beijing real estate market.
Pilot or Implementation of "One District, One Policy" in Beijing
On July 27th, Ni Hong emphasized at a corporate symposium that it is necessary to continue to consolidate the stabilization and recovery trend of the real estate market, strongly support the demand for rigid and improved housing, further implement policy measures such as reducing the down payment ratio and loan interest rate for purchasing the first home, reducing the tax and fee for purchasing improved housing, and providing personal housing loans with "no need to subscribe for housing".
Yan Yuejin, Research Director of E-house Research Institute, stated that the statement made by the Beijing Municipal Commission of Housing and Urban Rural Development is of great significance, indicating that Beijing will have relaxed measures in its housing policy in the near future.
Yan Yuejin believes that the Beijing Municipal Commission of Housing and Urban Rural Development has made it clear that "in conjunction with relevant departments, we will work closely to implement the work", indicating that Beijing will actively make policy adjustments and will have a combination of measures. It is expected that the "relevant departments" here mainly refer to the financial and tax departments. The policies of the financial sector may involve areas such as down payment ratios, loan interest rates, and housing and loan policies. At the same time, the Beijing Municipal Commission of Housing and Urban Rural Development mentioned "taking into account the actual situation of the Beijing real estate market", which also indicates that policy adjustments will be based on market conditions. From the current situation of the real estate market in Beijing, the second-hand housing market has significantly cooled down, with significant pressure, and the new housing market is also affected by this type of market. In other words, weak links in such markets are areas where subsequent policies will actively adjust.
Yan Yuejin pointed out that the statement made by the Beijing Municipal Commission of Housing and Urban Rural Development has signal significance, indicating that various regions are actively implementing the relevant policies and spirits of the Ministry of Housing and Urban Rural Development, and in turn, indicating that there will be various actions or strategies in various regions in the near future. In addition, it also indicates that there is a possibility of policy relaxation in first tier cities, and it is expected that relevant policies will be introduced in August, such as relaxation for suburban markets and relaxation for second-hand housing.
The Securities Times reporter learned that in April this year, the Beijing Municipal Commission of Housing and Urban Rural Development stated that it would pilot the housing purchase support policy in Fangshan District. At that time, the Beijing Municipal Commission of Housing and Urban Rural Development announced the list of key tasks and the progress of practical matters in the first quarter of the 2023 Municipal Government Work Report. One of the work tasks is to improve the "one district, one policy" regulatory measures, support the reasonable housing needs of "one old, one small", population dispersion in the central urban area, and work living balance. Regarding the progress of this work, the Beijing Housing and Urban Rural Development Commission stated that the housing support policy for families with multiple children and those with a balance of work and housing will be piloted by Fangshan District in a "one district, one policy" manner. The relevant content should be reported to the Beijing Municipal Party Committee and Government for approval to pilot and promote, and the next step is to seek the approval of the Ministry of Human Resources and Rural Development and the Ministry of Housing and Urban Rural Development.
Chen Wenjing, Director of Market Research at Zhongzhi Research Institute, predicts that the support policies for home purchases by families with multiple children and those with work and housing balance may focus on optimizing the "housing and loan recognition" standards, reducing down payment ratios, lowering mortgage interest rates, increasing the amount of provident fund loans, and adjusting social security/personal income tax years.
Zhang Dawei, Chief Analyst of Zhongyuan Real Estate, also believes that the most likely policies to be piloted in the future in Fangshan District include increasing the amount of housing provident fund loans for families with two or three children, reducing the down payment for a second home, or reducing the down payment for a second home for those who work and buy a house in Fangshan District. He also pointed out that the policy that Beijing should adjust the most is the recognition standard for non ordinary residential properties. The current low standard residential property line is equivalent to most houses in Beijing becoming luxury homes, resulting in customers who want to change houses needing 80% down payment. As a pilot new policy, Fangshan is just the beginning, and it should be implemented throughout Beijing in the future.
Shenzhen Housing and Urban Rural Development Bureau also has the latest statement
On July 30, the official official account of Shenzhen Housing and Urban Rural Development Bureau announced that it would better meet the rigid and improving housing needs of residents and promote the steady and healthy development of the real estate market.
The Shenzhen Housing and Urban Rural Development Bureau stated that the Central Committee of the Communist Party of China and the State Council attach great importance to the virtuous cycle and healthy development of the real estate industry. On July 24th, the Central Political Bureau meeting pointed out that in order to adapt to the new situation of significant changes in the supply and demand relationship of China's real estate market, timely adjustments and optimizations of real estate policies should be made, and the policy toolbox should be well used for urban policies to better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the real estate market.
The Shenzhen Housing and Urban Rural Development Bureau stated that recently, the Ministry of Housing and Urban Rural Development held a symposium on relevant enterprises. Minister of Housing and Urban Rural Development Ni Hong stated that she will continue to consolidate the stabilization and recovery trend of the real estate market, strongly support the demand for rigid and improved housing, and further implement various policy measures; Continue to do a good job in ensuring the delivery of buildings, accelerate the delivery of project construction, and effectively safeguard the legitimate rights and interests of the people.
The Shenzhen Municipal Bureau of Housing and Urban-Rural Development stated that it will resolutely implement the spirit of General Secretary Xi Jinping's important instructions on housing work, earnestly study and understand the spirit of the Politburo meeting, in accordance with the requirements of Ni Hong's speech at the corporate symposium, under the leadership of the municipal party committee and the municipal government, and Under the guidance of relevant departments at a higher level, combined with the actual situation of Shenzhen real estate, the relevant municipal departments, the central agencies in Shenzhen and various districts to implement the implementation to better meet the rigid and the needs, we will solidly promote the work of ensuring the delivery of buildings, earnestly maintain the order of the real estate market, and promote the steady and healthy development of the real estate market in Shenzhen.
Hefei plans to innovate and improve policy measures
On the afternoon of July 28th, Hefei held a special meeting on the real estate industry, clarifying the need to accelerate and improve ten work measures.
Among them, it is proposed to boldly and prudently promote the pilot project of "existing house sales" of commercial housing, and focus on promoting one pilot project each in Shushan District and Baohe District; To avoid a large proportion of shared area, it is necessary to actively explore the pricing of commercial housing sales based on the unit area; The renovation of urban villages is a public welfare project, not a for-profit project. It boldly explores land supply through targeted listing and agreement transfer. The meeting requires that mature policy measures be implemented one by one, with early introduction, implementation, and effectiveness.
Yan Yuejin believes that the multiple new reform ideas proposed by Hefei this time are worth paying attention to, such as the pilot of existing housing sales zones and the new land supply model for the transformation of "urban villages". Among them, actively reforming the problem of large water content in the shared area, and proposing to explore the pricing based on the inside area, is the city that has earlier reformed the "shared foam" in China.
