What signal was released?, Early Reading | First tier City "No need to subscribe to loans when buying a house"

Release time:Apr 16, 2024 05:02 AM

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What signal has the first tier cities released when they say "you don't have to subscribe to loans when you buy a house"?

As a national benchmark for the real estate market, the trend of first tier cities has attracted market attention. On August 30th, Guangzhou and Shenzhen actively followed up and responded, announcing the implementation of the policy of "housing recognition without loan recognition". As Shanghai and Beijing successively announced the implementation of this policy on September 1st. At this point, all first tier cities have implemented the policy of "housing recognition without loan recognition".

Will it have an impact on the market and residents as they transition from "housing and loan recognition" to "housing recognition without loan recognition"?

Reducing the cost of purchasing a house from two aspects

According to the Ministry of Housing and Urban Rural Development, the new policy is aimed at enabling more homebuyers to enjoy the down payment ratio and interest rate discounts for their first home loans, which will help reduce the cost of purchasing a house for residents and better meet the demand for rigid and improved housing.

How much specific discount can Shanghai citizens offer? Yan Yuejin, the research director of E-House Research Institute, calculated an account for reporters: taking a housing unit worth 5 million yuan in Shanghai as an example, before the implementation of the new policy, if the new house purchased by citizens was recognized as a second home, the minimum down payment ratio was 70%, and the down payment required 3.5 million yuan; After the implementation of the new policy, this new house will be included in the category of first home recognition, with a minimum down payment ratio of 35% and a down payment requirement of 1.75 million yuan. That is to say, the down payment cost has been reduced by half compared to before.

Buying a house changes from a second home to a first home, and the mortgage interest rate will also decrease accordingly. "At present, the interest rate for commercial loans for second homes in Shanghai is 5.25%. If the loan principal is 2 million yuan, based on a 30-year equal principal and interest calculation, the total interest expenditure is about 1.98 million yuan, and the monthly payment is about 11044 yuan/month." Yan Yuejin said that after the implementation of the new policy, the interest rate standard for first homes will be applied, with an interest rate of 4.55%. The total interest expenditure is about 1.67 million yuan, and the monthly payment is about 10193 yuan/month. By comparison, total interest expenses decreased by nearly 310000 yuan and monthly payments decreased by approximately 851 yuan.

Support the release of reasonable housing consumption demand

"The new policy of 'housing recognition without loan recognition' is a further release of reasonable support for various housing consumption needs under the premise of adhering to the principle of 'housing is for living, not for speculation'. Chen Jie, director of the Housing and Urban Rural Development Research Center at Shanghai Jiao Tong University, believes that improving families are the most direct beneficiaries.".

There is strong demand for improved housing in Shanghai. In the past, when homebuyers changed houses in Shanghai and had a loan record under their name, they were recognized as having a second home. The corresponding down payment and credit requirements were higher, which constrained the release of some demand for improvement.

The introduction of talents will also benefit from this new policy. In the past, some introduced talents who had a house or loan record in another city and purchased a house in Shanghai would be considered as a second home, which was not conducive to the stable housing of talents. Shanghai is building five new cities and promoting various emerging industries. Experts believe that implementing the policy of "housing recognition without loan recognition" is conducive to boosting the confidence of talents to settle in Shanghai and accelerating the inflow of talents to a certain extent.

Experts interviewed generally stated that the new policy will objectively guide market expectations towards positive development and have a positive and significant effect on boosting market trading volume. Lu Wenxi, Chief Analyst of Shanghai Zhongyuan Real Estate, told reporters that although the Shanghai real estate market has maintained overall healthy and stable development, the housing transaction data in July and August is slightly flat. "There is a saying in the real estate market that 'golden nine silver ten', and the introduction of the new policy is at the right time, which will send a very positive signal," said Lu Wenxi.

§ Reading newspapers

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Volvo's "remanufactured engine" has become the first order in the country. The first batch of pilot enterprises and products have been approved, and more achievements will emerge in the Shanghai Free Trade Zone

See today's Liberation Daily 1st edition for details

A Youth Story Led by a Brocade Flag

18 female workers joined the military in Shanghai and became heroes of the Korean War. What happened to them 70 years later?

See today's Liberation Daily 7th edition for details

§Shencheng

The Shanghai Tourism Festival will have 12 sub venues

In 15 days, the 34th Shanghai Tourism Festival will kick off grandly in the golden autumn season. This year's Shanghai Tourism Festival will not only hold over a hundred cultural and tourism activities and launch a thousand cultural and tourism products in the city, but also set up 12 tourism festival sub venues in Jiangsu, Zhejiang, Anhui, Fujian, and Jiangxi provinces. The five provinces and one city will achieve a "group style" mutual promotion, jointly boosting cultural and tourism consumption.

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※ Shencheng SMS

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§domestic

The central bank has lowered the reserve requirement ratio for foreign exchange deposits of financial institutions to 4%

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The National Film Administration released statistical data on the 1st, stating that from June 1st to August 31st, 2023, the summer box office of Chinese films reached 20.619 billion yuan, with 505 million viewers. This is the first time that China's summer box office has exceeded 20 billion yuan, setting a new record for summer box office.

※ Domestic SMS

① Guangdong launches the highest level emergency response to defend against Typhoon "Sula"

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§International

The UK government announces the transfer of positions such as Secretary of Defense

The UK government announced on August 31st that the Secretary of State for Energy Security and Net Zero, Grant Sharps, will replace Ben Wallace as Secretary of Defense, and the former Deputy Secretary of State for Education, Claire Coutinho, will take over as Secretary of State for Energy Security and Net Zero.

The Ukrainian side will receive the first batch of American aid to Ukraine's main battle tanks

According to foreign media reports cited by Urumqi News Agency on the 1st, the Ukrainian side will receive the first 10 tanks from the 31 Abrams main battle tanks promised by the United States to aid Ukraine in mid September. These 10 tanks have now arrived in Germany for maintenance and repair, and about 200 Ukrainian military personnel have recently completed tank operation training at the US military base in Germany.

Trump refuses to plead guilty to the Georgia vote count in the presidential election

Former Republican President Donald Trump refused to plead guilty on August 31 in a criminal case suspected of overturning Georgia's vote count in the 2020 presidential election, and sought a separate trial in this case. This means that Trump will not appear in court next week and refuse to plead guilty like he did in the previous three criminal proceedings.

※ International SMS

① The African Union announces the suspension of Gabon's membership

② The King of Thailand reduces the sentence of former Prime Minister Thaksin Shinawatra to one year

③ Paris Completely Prohibits Shared Electric Scooters

§ Viewpoints

What is the impact of the intensive release of financial policies on the stock and real estate markets?

In recent days, financial policies have been intensively released, and it is expected that subsequent stable growth policies will be implemented one after another.

For details, please refer to>>

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