Second time within the year! Shenzhen issues another notice: Lowering the application threshold for talent housing - Commercial housing | Talent | Notice

This article has a word count of 1848 and a reading time of approximately 3 minutes

Introduction: Lowering the purchase threshold will accelerate the pace of talent housing conversion.

Author | Zhang Huimin from First Financial

On August 21, the Shenzhen Housing Security Bureau issued the third batch of talent housing allocation notices for 2023, which drew attention to the information about the reduction of educational qualifications for applicants and the relaxation of the selection range of three family unit types.

Specifically, previously, the applicants for talent housing in Shenzhen were divided into two queues, and the applicants from both queues selected the housing in sequence. This allocation has added two queues of subscribers on the original basis.

In the first queue, the applicant has a full-time undergraduate degree or above, or belongs to a technician who meets the needs of Shenzhen's industrial development, or belongs to a high-level talent recognized by the Shenzhen Municipal Human Resources and Social Security Bureau, or belongs to a high-precision and scarce talent registered with the Shenzhen Municipal Talent Management Department. In addition, both the applicant and the co applicant are Shenzhen residents who have participated in Shenzhen social security for more than 3 years; Applicants who are single should be at least 35 years old.

In the second queue, the talent standards of applicants are the same as those of the first queue, but the scope of registered residence and other aspects has been relaxed. That is, the applicant is a Shenzhen household, who has participated in Shenzhen social insurance payment for more than 3 years in total, and the spouse of the applicant who does not have registered residence in this city normally pays social insurance in this city; Applicants who are single should be at least 30 years old.

The third queue added this time clearly states that vocational education also qualifies for subscription. The content of the third queue shows that the applicant has a full-time vocational education, intermediate or higher professional and technical qualifications, and a secondary vocational education or higher, or a technician, senior technician vocational qualification or senior vocational qualification, and the vocational qualification certificate meets the list of urgently needed occupations in Shenzhen, or belongs to the personnel who have won awards in the World Skills Competition and National Class I and II Vocational Skills Competition, or belongs to the personnel who have won the titles of "Chinese Skills Award", "National Skills Expert", "Guangdong Province Technical Expert", and "Shenzhen Technical Expert", or belongs to the personnel who have been commended by the Shenzhen Municipal Party Committee and Government. In addition, the applicant has the registered residence of the city and has participated in the social insurance of the city for more than 3 years accumulatively; The applicant's spouse and minor children are not subject to the restrictions of registered residence in this city, and the applicant's spouse without registered residence in this city normally pays social insurance in this city; Applicants who are single should be at least 30 years old.

Previously, a family of three could only choose a two bedroom or lower layout. The addition of a fourth queue in this case provides a three bedroom option for families of three. The content of the third queue shows that the applicant and co applicants meet the application conditions of any queue in the first, second, or third queues, with a family size of three people and an intention to subscribe for a three bedroom apartment.

It is worth noting that this is the second time that Shenzhen Talent Housing has lowered the purchase threshold. In March this year, Shenzhen announced the second batch of talent housing, reducing the age limit for unmarried and single individuals to purchase talent housing from 35 years old to 30 years old; In addition, the registered residence requirements for joint applicants have also been relaxed.

The relaxation of the subscription threshold is closely related to the sluggish sales of the real estate market and the lower than expected turnover of talent housing. According to data monitored by the Leyoujia Research Center, many projects in Shenzhen chose discount promotions when they opened in July this year, which stimulated the rise of the new housing market. The number of online signings increased to 3156 units. However, although the number of online signings was the highest in the past 12 months, it has not yet reached the boom and bust line of 5000 units per month. For the reason why the transaction volume of newly built commercial housing is lower than expected, there are also views in the market that the "60% discount" talent housing has diverted a group of first-time homebuyers.

The decentralization of talent housing is not optimistic either. According to previous statistics from First Financial, as of March this year, the sales turnover rate of 4422 talent housing units launched in Shenzhen in November 2022 was only 44%, while the sales turnover rate of projects with remote locations was only 4.06%. In addition, only high-level talents and families with 4 or more people can subscribe to three bedroom units, and the number of subscription groups is limited. Compared to two bedroom units, the rejection rate of three bedroom units is higher.

Regarding the relaxation of the conditions for applicants mentioned above, He Qianru, Director of the National Research Center of Meilian Property, told First Financial that in the current talent housing application conditions in Shenzhen, the educational level has been lowered, further expanding the audience; In addition, in response to the situation where a 3-bedroom apartment is not as good as a 2-bedroom apartment in the early stage of talent housing, families of three are allowed to apply for a 3-bedroom apartment. Both measures are aimed at promoting the sales of talent housing.

He Qianru said that the reduction of the purchase threshold will increase the popularity of talent housing and accelerate the pace of talent housing's transformation. In addition, although talent housing and commercial housing are not on the same track, they will inevitably divert some of the essential customers in the commercial housing market. Fortunately, the quantity of talent housing is relatively small and belongs to the last part of inventory. Therefore, talent housing will only have a short-term impact on the commercial housing market, and the impact is not significant.

The talent housing launched in this batch involves two projects in Guangming District, Shenye Yirui Mansion and Yutang Shangfu, with a total of 702 housing units, including 420 two bedroom units and 282 three bedroom units. Specifically, the average allocation price for Shenye Yirui Mansion is 28447 yuan/square meter. There are a total of 190 two bedroom units with a building area of approximately 69 square meters and 124 three bedroom units with a building area of approximately 89 square meters; The average selling price of Yutang Shangfu is 27449.68 yuan/square meter. There are a total of 230 two bedroom units with a building area of approximately 69 square meters and 158 three bedroom units with a building area of approximately 89 square meters.

According to the above price calculation, the total price of the two bedroom apartments in Shenye Yirui Mansion and Yutang Shangfu is about 1.96 million yuan and 1.89 million yuan, respectively. If 30% of the down payment is made, it will be about 590000 yuan and 570000 yuan, respectively.

In addition, the online subscription period for this batch of talent housing applications is from 9:00 on August 21, 2023 to 18:00 on August 30, 2023.