(Economic Observation) Hainan Free Trade Zone (Hong Kong) bids farewell to the "off-plan" era
China News Service, Haikou, March 8th: Hainan Free Trade Zone (Hong Kong) bid farewell to the "off-plan" era
China News Agency reporter Wang Ziqian
Against the background of the new crown pneumonia epidemic, parts of the country are trying to loosen the property market to boost the economy. However, Hainan Province has launched a new real estate policy to further tighten regulations, which is unexpected.
According to the "Notice on Establishing the Responsibility System for the Urban Real Estate Market for the Steady and Healthy Development of the Real Estate Market" announced by Hainan Province on the evening of the 7th, it is clear that the newly-sold land for commercial housing construction and the existing house sales system are implemented. At the same time, local residents have restricted the purchase of multiple homes and implemented a residential housing development plan.
"In general, it is tighter-oriented, which further reflects Hainan's determination to stabilize the real estate market." Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute, said that Hainan's reform of the real estate market, especially becoming China's first province for existing home sales, is meaningful. major.
Since the 1990s, the mainland real estate market has adopted a "pre-sale system" (selling off-plan properties). As a test field for the market-oriented real estate system, Hainan pioneered the inland “floor sale” in the 1990s. “To earn money, go to Hainan; to get rich, get real estate” became a buzzword at the time. The prevalence of speculation in land sales has become an incentive for Hainan's real estate bubble.
Luo Hao, a researcher in the real estate market in Hainan, pointed out that the core strategy for real estate development in enterprises is to develop in stages, buildings, and blocks. The project will realize the advance sale of some products through engineering nodes and accelerate the return of funds. Turnover risks increase, which reduces their willingness to invest in land. "
This year marks the beginning of the Hainan Free Trade Port. The industry pointed out that Hainan's tightening of real estate regulation is directly related to this. "This conforms to the trend of industrial transformation. Real estate in the free trade port system must have a new positioning." Wang Lu, secretary general of the Real Estate Industry Association of Haikou, said that the real estate industry under the free trade port is not a simple residence, but represents a new industry chain. The whole system is different from other regions.
Liu Feng, director of the Free Trade Port Research Center with Chinese Characteristics of Hainan Normal University, pointed out that this round of new policies is a clear signal for the release of Hainan real estate under the free trade port: to continue the tone of "do not live and live in real estate" and put the industry development in the background of the free trade port In consideration, in the future, land should be given priority to protect the demand for land in industrial parks, theme parks, etc., and to ensure the demand for attracting talents and local residents to live in, and not to be a real estate processing plant.
In other cities in China, the call for "rescue the property market" has emerged, and Hainan continues to tighten, which can be described as a standout. According to Yan Yuejin's analysis, Hainan's move is to restrict speculation and other behaviors to prevent market risks under the construction of a free trade port. Other cities are facing weaker markets under the influence of the epidemic. "Although the directions are different, the essence is to maintain market stability. "
After Hainan announced the construction of a free trade zone in April 2018, there was a brief upsurge in the real estate market. Later, the province implemented a "wide purchase restriction" policy to cool the market. In 2019, Hainan's investment in real estate development in the province fell by 22.1% year-on-year. The floor space and sales value of commercial housing fell by 42.1% and 38.8%, respectively. The average sales price remained at about RMB 15,000 per square meter, and the price was basically stable.
Another focus of the recently released Hainan Real Estate Policy is the suspension of the purchase of a third home by residents of the province. Wang Lu pointed out that this is the restriction on the investment demand of the household registration population in the province after the purchase restriction of the external population, and behind it is the re-implementation of Hainan's national macro-policy of "do not live and live". Local residents will be more cautious when replacing properties.
After “patching” the housing policy, Hainan explicitly proposed that it will develop four types of housing: public rental housing, residential housing, market-oriented commodity housing, and market-oriented rental housing to meet housing needs and promote the realization of people ’s living and living in the province. .
"Residential commodity housing can be seen as Hainan's reference to Singapore's" HDB "system, and strive towards home ownership." Liu Feng said that the residential commodity housing is a supporting housing policy with the free trade port, which will help attract talents and Protecting the needs of local residents will play an important role.
This time Hainan proposed the establishment of the urban main responsibility system, requiring cities and counties to avoid using housing as a tool and means to stimulate economic growth in the short term. Huo Juyan, director of the Department of Housing and Urban-Rural Development of Hainan Province, said that the province further standardized market order by establishing a joint disciplinary mechanism, a fund supervision mechanism, and a risk early-warning mechanism. (Finish)