There are two more cities optimizing their real estate market policies! Tianjin has important innovations in "recognizing houses but not loans"

Recently, various regions have been intensively implementing and optimizing real estate policies.

On September 18th, Xiamen released a new policy to stabilize the real estate market, which proposed to cancel the purchase and sale restrictions outside the island, reduce the down payment ratio and interest rate of off island housing loans, and adjust the determination of housing provident fund loan units, the minimum down payment ratio, and the first and second home interest rates simultaneously.

On the same day, Tianjin officially announced the implementation of the "house recognition but not loan recognition" policy, and the new policy will be implemented from September 19, 2023.

It is worth noting that according to the new policy in Tianjin, not only is there a house with a loan in another city, but a house without a house in Tianjin is considered the first home. Moreover, even if there is a house with a loan in the suburbs of Tianjin, a house without a house in the urban area of Tianjin is considered the first home.

Industry insiders believe that the "housing recognition but not loan recognition" policy in Tianjin has significant innovation, dividing the city into restricted and non restricted purchase areas. This division is more relaxed than the traditional "housing recognition but not loan recognition" policy.

Cancellation of purchase and sales restrictions outside Xiamen Island

On September 18th, the Xiamen Housing Security and Housing Management Bureau issued a notice on further promoting the stable and healthy development of the real estate market.

Regarding the policy of purchase and sale restrictions, the new policy proposes to strengthen precise regulation and purchase first-hand and second-hand commercial housing in Jimei District, Haicang District, Tong'an District, and Xiang'an District. The qualification of homebuyers will no longer be reviewed, and the listing and trading time will no longer be restricted. The policies in Siming District and Huli District remain unchanged.

For credit policies, the new policy proposes that for residential families who purchase commercial housing in Jimei District, Haicang District, Tong'an District, and Xiang'an District with loans, the minimum down payment ratio for first home commercial loans is 20%, and the minimum down payment ratio for second home loans is 30%; The lower limit of the first home commercial loan interest rate policy shall be implemented in accordance with current regulations, and the lower limit of the second home commercial loan interest rate policy shall be adjusted to not less than the market quoted interest rate for the corresponding term loan plus 20 basis points.

For the housing provident fund loan policy, the new policy proposes that the determination of the number of housing units, the minimum down payment ratio, and the interest rates for the first and second units of housing provident fund loans that meet the conditions should be compared with the commercial loan policy; The liquidity adjustment coefficient of housing provident fund loans will be raised to 1 in stages, and the maximum loan amount for housing provident fund loans is 1.2 million yuan.

It is understood that Xiamen Island refers to Siming District and Huli District under Xiamen's jurisdiction, while Xiamen Island refers to the other four districts under Xiamen's jurisdiction, namely Jimei, Haicang, Tong'an, and Xiang'an.

Tianjin implements the policy of "recognizing houses but not loans"

On September 18th, the Tianjin Housing and Urban Rural Development Commission and three other departments issued a notice on optimizing the standards for determining the number of housing units in personal housing loans in our city.

It is proposed that when a resident family applies for a loan to purchase commercial housing in a restricted or non restricted housing area, and the family members do not have a complete set of housing under the corresponding area name, regardless of whether they have used the loan to purchase housing, banking and financial institutions will implement housing credit policies for the first set of housing.

Regarding the reasons for the introduction of the new policy, the Tianjin Municipal Commission of Housing and Urban Rural Development stated that at the end of August, the Ministry of Housing and Urban Rural Development, the People's Bank of China, and the State Administration of Financial Supervision issued a notice on optimizing the criteria for determining the number of housing units in personal housing loans, which clearly stated that "when a household applies for a loan to purchase commercial housing, regardless of whether they have used the loan to purchase housing, banking and financial institutions will implement the housing credit policy for the first unit of housing." This policy will be used as a policy tool and included in the "One City, One Policy" toolbox for cities to choose independently. In order to implement national policy requirements and better support the rigid and improved housing needs of residents, the Tianjin Municipal Commission of Housing and Urban Rural Development, the Tianjin Branch of the People's Bank of China, and the Tianjin Supervision Bureau of the State Financial Supervision and Administration have formulated and issued this notice, further optimizing the standards for determining the number of housing units in personal housing loans in Tianjin.

Tianjin has important innovations in "recognizing houses but not loans"

It is worth noting that unlike other cities that implement the policy of "recognizing a house but not a loan", Tianjin has added the term "housing purchase restriction or non purchase restriction areas" in this policy. As long as there is no house under the corresponding area name, the first set of loans will be used to buy a house.

Securities Times reporters learned that on September 1st, Tianjin adjusted and optimized its real estate policies, including optimizing regional purchase restriction measures. The housing purchase restriction area was adjusted to six districts within the city. Residents who purchase new or second-hand housing within the housing purchase restriction area still adhere to Tianjin's housing purchase restriction and qualification policies.

According to the new policy of "recognizing a house but not a loan" in Tianjin, it means that as long as there is no house under the name of the urban area, whether or not a loan has been used to buy a house outside the urban area, buying a house in the urban area will be counted as the first installment.

In this regard, Yan Yuejin, the research director of E-House Research Institute, believes that the Tianjin policy has significant innovation. On the one hand, it is a manifestation of the policy of recognizing a house but not a loan, which allows various types of home purchases to enjoy the standard of first home. On the other hand, it divides the city into restricted purchase areas and non restricted purchase areas. This division is actually more lenient than the traditional policy of recognizing houses but not loans. For example, if there is a house in the suburbs of Tianjin but no house in the city, it is still possible to consider it as the first home. This makes it more likely that various types of home purchases will be included in the standard for first homes.

Recently, the housing policy in Tianjin has been continuously relaxed. In addition to optimizing the regional purchase restriction measures, there are three measures in the optimization policy issued by Tianjin on September 1. The first is to support the rigid housing demand and the reasonable purchase demand of college graduates. If college graduates who are not registered in registered residence have no housing in the housing purchase restriction area in Tianjin, they can purchase a set of housing by labor contract or enterprise registration certificate and graduation certificate. The second is to improve housing credit policies. In the non housing purchase restriction areas of Tianjin, if households apply for commercial personal housing loans to purchase houses, they shall follow the differentiated housing credit policies of cities that do not implement purchase restriction measures. Extend the maximum term of commercial personal housing loans in Tianjin. The third is to encourage the distribution of housing subsidies. Encourage the people's governments of various districts in Tianjin to provide certain subsidies to homebuyers who purchase newly-built commercial housing in this area, in order to reduce the burden of homebuyers.