Market insiders have different opinions, has Shenzhen's "house recognition but not loan recognition" policy been implemented? The Four Great Banks Deny

Introduction: Policy expectations have been transmitted to the new housing sales market in Shenzhen.

After the three departments shouted on August 25th to implement the policy of "housing recognition without loan recognition", there are rumors that banks in Shenzhen have already implemented this policy.

Regarding the above rumors, the four major banks, Shanghai Pudong Development Bank, and China Merchants Bank have all told First Financial that they have not received any relevant policy documents and have not implemented the policy of "recognizing houses but not loans". However, some real estate agents have stated that Minsheng Bank and Shanghai Pudong Development Bank have already implemented it.

It is worth noting that although the official department in Shenzhen has not yet issued a document to implement the policy of "recognizing houses but not loans", the expectation of this policy has been transmitted to the new housing sales market. Recently, there have been rumors of multiple real estate developments in Shenzhen reclaiming discounts. Some sales offices have acknowledged this, while others have officially debunked the rumors.

All four major banks deny it

"Recognizing a house but not a loan" refers to when a homebuyer takes out a loan, the standard for identifying their first home is only based on the number of housing units under the buyer's name. If "recognizing a house but not a loan" is implemented, homebuyers who have purchased a house but do not have a house under their name can enjoy the down payment ratio and loan interest rate of the first home standard. Especially for first tier cities with stricter policies, the financial pressure on homebuyers will be reduced.

On August 25th, the Ministry of Housing and Urban Rural Development, the People's Bank of China, and the State Administration of Financial Supervision jointly issued a notice on optimizing the standards for determining the number of housing units in personal housing loans, promoting the implementation of the policy measures of "not recognizing loans but recognizing houses" for the purchase of first home loans. The document clearly states that the policy of "recognizing houses but not loans" is included as a policy tool in the "One City, One Policy" toolbox for cities to choose independently. That is to say, the specific implementation will be decided by each city.

According to the above online news, "The detailed rules for" recognizing a house but not a loan "in Shenzhen have been implemented. If there are multiple properties or loans in different places, as long as there is no house in Shenzhen, they can be recognized according to the down payment ratio and loan interest rate for the first home. Among the four major state-owned banks, Industrial and Commercial Bank of China has confirmed it, and Shanghai Pudong Development Bank has also confirmed it."

Both Industrial and Commercial Bank of China and Shanghai Pudong Development Bank have denied this rumor.

"We also saw the news on Tiktok." On the morning of August 28, the staff of ICBC's personal loan department in Shenzhen told First Finance that at present, Shenzhen has not issued relevant documents to indicate that it can "recognize the house and not recognize the loan", and the information transmitted online is untrue, "it is not issued by ICBC officially, and all information is subject to the notice on the bank's official website".

On the morning of August 28th, the personal loan manager of a branch of Shanghai Pudong Development Bank in Shenzhen told First Financial that "many customers are asking, but we have not received any formal notice yet." The personal loan manager also denied the rumor that "Shenzhen will not issue documents and will execute directly." He stated that Shanghai Pudong Development Bank has not yet implemented the "house recognition but not loan recognition" policy in Shenzhen.

In addition, the reporter also consulted with Construction Bank, Bank of China, Agricultural Bank of China, and China Merchants Bank, and the responses received were all "not executed".

On the morning of August 27th, the personal loan manager of a branch of China Construction Bank in Shenzhen told First Financial that there was no specific notice or detailed rules for "recognizing houses but not loans" in Shenzhen. Regarding the statement that "Shenzhen does not issue documents, it will be implemented directly", the personal loan manager said, "Without detailed rules, it will definitely not be possible to implement it."

"This is not a question of whether a particular bank will implement it, it depends on the regulations of the Shenzhen Municipal Government. We have not received any relevant notice yet," said the personal loan manager of a branch of Bank of China in Shenzhen to First Financial.

The personal loan manager of a branch of Agricultural Bank of China in Shenzhen also told First Financial that they have not yet received any relevant policies on "recognizing houses but not loans". If there are relevant policy documents, they will be implemented immediately.

"At present, it is only a contingency plan and has not been implemented yet." On the morning of August 28th, a staff member of China Merchants Bank in the Shenzhen area told First Financial that although there are relevant contingency plans, they have not been officially announced or implemented, and there is no news on when they will be implemented.

However, while the bank denied it, the real estate agency provided different information.

A real estate agent in Nanshan District, Shenzhen, told First Financial that Shenzhen has not yet fully officially lifted the policy of "recognizing houses but not loans". Another real estate agent provided more detailed information, stating that although there are currently no detailed rules, Minsheng Bank and Shanghai Pudong Development Bank have already implemented the policy. As long as there is no house in Shenzhen, the down payment can be 30%, and the loan interest rate is 4.2%.

The market has undergone changes

In addition, after the three departments shouted "recognize the house but not the loan", there were also reports of several real estate projects in Shenzhen reclaiming discounts, including China Merchants Zhencheng Garden, China Merchants Yongyun Mansion, and Runyao Mansion.

The reporter learned that there are indeed projects with plans to recover discounts.

According to the online information about China Merchants Yongyun Mansion, "Considering that the current discounts have not met the company's profit requirements since the opening, in order to achieve a better balance between quantity and price, and improve project profitability, the company has decided to take advantage of the three departments' promotion of the implementation of the" house recognition without loan recognition "policy for the purchase of the first home. Starting from September 1, 2023, it is ordered to discount and recover 2% of the 3 and 5 buildings on sale, and cancel the 10000 yuan household appliance package."

On August 27th, the reporter called the sales office of China Merchants Yongyun Mansion, and the staff of the sales office stated that there is indeed a plan to recover the discount for the project. It stated that the current most favorable price for the project is 10% off, and an additional 10000 yuan home appliance package will be included. After September 1st, the discount will be adjusted to 92% off.

However, some real estate developers have denied and refuted rumors of reclaiming discounts.

According to the online document regarding the recovery of discounts from China Merchants Zhencheng Garden, "Considering that China Merchants Zhencheng is a key transfer project for the company in 2023 and is a sales of existing properties, the company has made a decision to take advantage of the implementation of the" no need to subscribe "policy for the purchase of first home loans by three departments. Starting from September 1, 2023, it is ordered to adjust the discount system for the current available properties of China Merchants Zhencheng Garden project and recover a promotional discount of 98% for existing properties."

The staff of the sales office of China Merchants Zhencheng Garden denied the news of reclaiming the discount, and told First Financial that the news was not released for the project. It is worth mentioning that the current discount for this project is relatively high, and it belongs to the existing property. If the contract is signed within 7 days, you can enjoy a discount of 87.6%.

According to the meeting minutes of the Runyao Mansion project circulated online, "After inspection by the company, the sales flow rate of the Runyao Mansion project is fast, and the current selling price is low. In addition, considering the upcoming policy of 'housing recognition without loan recognition', we are now supervising the implementation of the Runyao Mansion project to recover a 5% discount on residential properties before September 1st."

However, the developer subsequently debunked the rumor. On August 26, China Resources Land Shenzhen Region issued a clarification on its official official account, saying, "Recently, the company learned that the screenshots of the meeting minutes about the sales price of Runyao Mansion were circulated on the Internet, and it was verified that no relevant meeting was held for the project, and there was no decision on price adjustment. All information about price is subject to the announcement of the project sales office."

It is worth mentioning that the above three real estate projects all have several common characteristics, namely, they are located in peripheral areas such as Longgang, Longhua, and Guangming, far from the subway station. They opened in the first half of this year, and overall, the sales volume is not ideal.