(Economic Observation) Solve the housing problem in big cities, China releases three major signals of next year's property market

　　China News Service, Beijing, December 18th, title: Solve the housing problem in big cities, China releases three major signals of next year's property market

　　China News Agency reporter Pang Wuji

　　The Central Economic Work Conference, which closed on the 18th, discussed housing-related issues for a long time, and for the first time clearly mentioned “solving outstanding housing problems in big cities”.

The meeting released three major signals in the real estate market next year.

Data map: A real estate under construction in Chengdu.

Photo by China News Agency reporter Zhang Lang

"Housing is not speculation" across the cycle

　　Since the end of 2016, the Central Economic Work Conference first proposed that "housing and housing should not be speculated". Over the past four years, more and more people have clearly realized that the road to real estate speculation is not feasible and that China's real estate market is entering a new era.

　　The meeting reiterated that it is necessary to adhere to the positioning of houses for living, not for speculation, to adapt measures to local conditions, and to promote the steady and healthy development of the real estate market.

　　Kang Junliang, secretary general of the Legal Affairs Committee of the China Real Estate Association, said in an interview with a reporter from China News Agency that all walks of life should clearly realize that "housing to live without speculation" is the biggest direction and goal in the real estate sector, and all housing policies must follow this guide.

　　This is determined by the transition of China's economic development stages and logical changes. In the future, the development of China's national economy will be mainly driven by consumption, and the real estate industry must give up various social resources that have been over-occupied in the past.

"The real estate development cycle will change in the future, but the'housing to live without speculation' will cross the cycle," said Kang Junliang.

　　Wang Yiming, former deputy director of the Development Research Center of the State Council, also pointed out that expanding consumption must adhere to the policy of “no speculation in housing and housing” to prevent the crowding-out effect of excessively rapid housing prices and residents’ high leverage on consumption.

　　This year, the Chinese government has emphasized the strengthening of financial supervision in the real estate sector, and the introduction of new regulations on real estate asset management known as the "three red lines" are all in this line.

Xu Xiaole, chief market analyst of the Shell Research Institute, told a reporter from China News Agency that in the next five years, real estate financial supervision will be further strengthened, which will help control the level of leverage on the residential and corporate ends.

Solve the outstanding problems of housing in big cities

　　This year's meeting put special emphasis on solving the outstanding problems of housing in big cities.

　　In 2020, in response to the epidemic, overseas central banks have released unprecedented amounts of water. The ten largest cities in the world have seen rapid rises in housing prices, and multi-city housing prices hit a record high.

　　Xu Xiaole pointed out that in China, the contradiction between housing supply and demand in some large cities such as Shenzhen has further intensified, and housing prices have risen significantly.

However, the excessively rapid rise in housing prices will hinder the inflow of population to a certain extent and is not conducive to urban development. Therefore, the meeting clearly made "solving prominent housing problems in big cities" an important task next year.

　　Gu Yunchang, chairman of the National Federation of Real Estate Chambers of Commerce, also said that, in fact, the current real estate problems in China mainly lie in big cities, such as excessively high housing prices or rapid housing prices, residents cannot afford them, and the leasing market is underdeveloped.

　　Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, also noticed that this year, large cities including Shenzhen, Shanghai and other big cities have been rushing for housing.

　　He believes that next year, there may be three major changes in real estate policies in big cities where the contradiction between supply and demand in the real estate market is obvious.

The first is to continue to crack down on demand for real estate speculation, such as the behavior of "buying houses on behalf of others" previously exposed in Shenzhen.

The second is to increase land supply, especially to increase the supply of pure residential land.

The third is to continue to develop the leasing market.

Make up for shortcomings in rental housing

　　This conference will be devoted to deploying the development of the housing rental market as an important way to solve housing problems in big cities.

　　With China's rapid urbanization, a large number of new citizens and young people are pouring into cities. They are the source of power for urban development. However, the high housing prices in cities, especially large cities, have become a major obstacle to "housing".

　　Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, pointed out that in large cities, the housing problem of new citizens is the most prominent. Many people neither meet the conditions for applying for social housing (the housing is mainly for low-income earners or talents) and cannot afford to buy them. Commercial housing.

Therefore, the market provides some low-rent, small-sized rental housing, so that new citizens can take root in the city, which is of great significance for creating a new pattern of internal circulation and expanding the strategic base of domestic demand.

What are the development priorities of the future leasing market?

　　Xu Xiaole pointed out that the construction of affordable rental housing is the focus.

Policy-based rental housing is based on the principle of "whoever invests is responsible", and through policy subsidies to fully mobilize market forces to actively participate, it can more effectively increase the supply of rental housing.

　　The meeting again mentioned hire purchase rights.

Yan Yuejin said that this is mainly about the same rights in settlement, enrollment, and medical treatment.

　　Li Yujia also said that based on the scarcity of high-quality public services, the same rights of hire and purchase will be gradually realized in the future.

For example, with regard to education, the government has increased public education and made private schools and public education closer in quality.

　　In addition, the meeting also mentioned that it will provide more abundant land security for the leasing market, including traditional land supply, collective construction land, and idle land.

Analysis believes that these are conducive to increasing the supply of rental housing, stabilizing rent levels, and truly solving the housing problems of new citizens.

(Finish)