Since September, more than 30 provinces and cities in China have optimized their real estate policies, and 8 cities have officially announced the complete lifting of purchase restrictions in the real estate market | nationwide
To support the demand for rigid and improved housing, and further boost market confidence, the pace of implementing real estate policies in various regions has accelerated. Since September, more than 30 provinces and cities in China have optimized their real estate policies, and at the same time, more and more cities are following up on the lifting of purchase and sales restrictions.
Two cities in Shandong follow up on lifting purchase and sales restrictions in the real estate market
Within one day, the purchase and sales restrictions on the real estate market in two cities in Shandong will be completely lifted.
On September 11th, according to Qilu Evening News, the reporter learned from the Housing and Urban Rural Development Bureau of Jinan City that in order to maintain the stable and healthy development of the city's real estate market, support rigid and improved housing demand, and further boost market confidence, Jinan City has adjusted its current real estate regulation policies and measures: lifted 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.
It is worth mentioning that Lixia District and Shizhong District within the Second Ring Road are the only remaining restricted purchase areas in Jinan before. After the lifting of the purchase restrictions, Jinan has completely lifted the purchase restrictions.
On the same day, the Housing and Urban Rural Development Bureau of Qingdao issued a notice on moderately adjusting the real estate policies in our city, adjusting the housing purchase restriction areas, moving the Shinan and Shibei districts out of the restriction areas, and canceling the purchase restriction policies throughout the area. At the same time, optimize the trading period of housing listings. Within the scope of this city, commercial housing can be listed for trading after obtaining the Real Estate Ownership Certificate.
Yuan Binbin, General Manager of Shandong Real Estate at Zhongzhi Research Institute, pointed out that the lifting of purchase and sales restrictions in Qingdao and Jinan will have a positive impact on the current real estate market. Especially helpful for improving confidence. The listing volume of second-hand houses will increase rapidly in the short term, with a slight increase in transaction volume, stable prices, and a certain increase in new house visits. However, the overall impact will not be particularly significant. It believes that on the one hand, the areas where purchase restrictions were previously imposed in Qingdao and Jinan are already relatively small, and the policies introduced in January in Jinan have relatively relaxed requirements for purchase restrictions; Secondly, the sale of second-hand houses with a property certificate of less than 2 years will have a relatively high value-added tax, which will affect the transaction cost. If the tax and fee policies can be followed up and optimized in the later stage, it is believed that the driving effect on the market will be greater.
8 cities have completely lifted purchase restrictions
Prior to this, the strong second tier city of Nanjing also withdrew from the list of restricted purchase cities.
On the evening of September 7th, Nanjing, the capital city of Jiangsu Province, released the latest measures to promote the development of the real estate market in Nanjing, with a total of six new measures launched. In addition to requiring the implementation and adjustment of the latest national credit policy requirements, the new policy also clarifies that in order to further optimize the process of purchasing housing services, starting from September 8th, purchasing commercial housing within four districts including Xuanwu District, Qinhuai District, Jianye District, and Gulou District will no longer require a proof of purchase.
In fact, the above four main urban areas were previously the only restricted purchase areas in Nanjing. After these four areas are no longer subject to purchase restrictions, it means that Nanjing has completely lifted the purchase restrictions on commercial housing.
Yan Yuejin, Research Director of E-House Research Institute, pointed out that as a strong second tier city, the complete cancellation of Nanjing's purchase restriction policy has strong signal significance, and also represents the direction of sustained relaxation of policies in other key cities across the country.
According to incomplete statistics from Zhuge Data Research Center, as of now, eight cities including Dongguan, Foshan, Shenyang, Jiaxing, Dalian, Nanjing, Jinan, and Qingdao have announced the complete cancellation of purchase restrictions. The market effect of lifting purchase restrictions in core second tier cities may be significantly greater than that in other low-energy cities. Therefore, the comprehensive lifting of purchase restrictions in core second tier cities such as Jinan, Qingdao, and Nanjing is of great significance for the current real estate market.
Since September, more than 30 provinces and cities in China have optimized their real estate policies
According to previous reports by Guoshi Express, administrative and restrictive housing policies represented by purchase restrictions, loan restrictions, sales restrictions, and price limits were once seen as the "killer weapon" in the real estate market regulation toolbox of various regions. However, as the Chinese real estate market enters a new stage, the industry generally believes that it is difficult for the Chinese real estate market to reproduce its past rapid development. At present, the pressure of adjustment in many real estate markets is increasing, facing slow recovery of market confidence and decreased transaction activity. The adaptability of restrictive home purchase policies has decreased when implementing urban policies.
It is worth mentioning that since July this year, the authorities have repeatedly stated their intention to better meet the rigid and improved housing needs of residents.
On July 24th, the Political Bureau of the Central Committee of the Communist Party of China held a meeting to analyze and study the current economic situation and deploy economic work for the second half of the year.
The meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation of major changes in the supply and demand relationship of my country's real estate market, adjust and optimize real estate policies in a timely manner, and make good use of the policy toolbox according to urban policies to better meet the rigid and improved housing needs of residents. Promote the steady and healthy development of the real estate market.
On July 27th, according to Xinhua News Agency, Ni Hong, Minister of Housing and Urban Rural Development, stated at a recent corporate symposium that the real estate market should continue to consolidate its stabilization and recovery trend, 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"; 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.
Subsequently, many regions responded to policy measures such as adjusting personal housing loans to "recognize houses without recognizing loans".
According to monitoring data from the China Index Research Institute, from September 1st to 10th, more than 30 provinces and cities across the country have optimized their real estate policies, with more than 30 policies being implemented frequently. In order to seize the "golden nine silver ten" market window, the pace of policy implementation has accelerated in various regions. On August 30th, Guangzhou and Shenzhen took the lead in implementing the policy of "recognizing a house but not a loan" for the first home. On September 1st, Beijing and Shanghai fully followed up on the implementation, exceeding market expectations. In addition to first tier cities, more than 30 cities including Chengdu, Hangzhou, Xiamen, Changsha, and Suzhou followed up on the implementation of relevant measures. Nanjing, Shenyang, Dalian, Lanzhou, Qingdao, and Jinan have lifted purchase restrictions, while Shanghai has lowered the threshold for talent to purchase houses in the Lingang New Area. In addition, more than 10 cities including Shenyang, Dalian, Chongqing, and Nanjing have clearly implemented differentiated housing credit policies.