In order to resolutely implement the decisions and deployments of the Party Central Committee and the State Council, strictly implement the state’s requirements for implementing policies and “one city, one policy” for real estate market regulation and control, and firmly adhere to the positioning of houses for living, not for speculation, and build a perfect real estate agency. Effective mechanism, focus on stabilizing land prices, house prices, and expectations, insist on simultaneous rental and purchase, increase housing supply, adjust housing demand, strengthen market supervision, and promote the steady and healthy development of the Shanghai real estate market.
With the consent of the Shanghai Municipal Government, the Municipal Housing and Urban-Rural Construction Management Committee, the Municipal Housing Administration, the Municipal Planning and Natural Resources Bureau, the Municipal Finance Bureau, the Municipal Taxation Bureau, the People’s Bank of China Shanghai Branch, the Shanghai Banking and Insurance Regulatory Bureau, and the Municipal Market Supervision Administration Jointly issued the "Opinions on Promoting the Stable and Healthy Development of the City's Real Estate Market" (hereinafter referred to as the "Opinions"), which will be implemented on January 22, 2021.
The "Opinions" clearly and strictly implement the housing purchase restriction policy.
For couples who purchase commercial housing within 3 years of their divorce, the number of housing units owned by them shall be calculated based on the total number of households before the divorce.
The "Opinions" require strict implementation of differentiated housing credit policies.
Implement the concentration management of real estate loans, strengthen the prudent management of personal housing loans, and guide commercial banks to strictly control the pace and growth of personal housing loans to prevent surprise loans.
Guide commercial banks to further strengthen the management of loan review, and intensify the verification of the source of down payment funds and debt-to-income ratio of home buyers.
Strictly prevent credit loans, consumer loans, business loans and other funds from flowing into the real estate market in violation of regulations.
The "Opinions" stipulate that the VAT exemption period should be adjusted.
If an individual purchases less than 5 years of housing for external sales, the full amount of value-added tax will be levied; if an individual purchases more than 5 years (including 5 years) of non-ordinary housing for external sales, the difference between the sales income and the purchase price of the housing Value-added tax is levied; individuals who purchase ordinary houses for more than 5 years (including 5 years) are exempt from value-added tax.
The "Opinions" emphasized strict management of commercial housing sales.
Strictly manage the filing and management of new commercial housing sales plans.
Strictly implement various management systems such as the "one price clear" and "real name system" for commercial housing sales.
Improve the housing selection system of newly-built commercial housing by notarization lottery, and give priority to satisfying the self-occupied housing needs of "family without housing".
Strengthen the supervision of pre-sale funds to protect the legitimate rights and interests of buyers.
The "Opinions" propose to strictly regulate the operating order of the real estate market.
Strengthen the supervision of real estate development enterprises, sales agency enterprises and real estate brokerage agencies, and carry out special rectification of the real estate market order.
Strengthen joint rectification and law enforcement, form a joint law enforcement force, and seriously investigate and deal with illegal activities such as cover-up and reluctance to sell, price violations, false advertisements, artificially creating market tensions, and inducing evasion of regulatory policies.
According to the "Opinions", Shanghai will also improve the management of the land market, optimize the land supply structure, and increase the supply of land for commercial housing, especially around the suburban rail transit stations and the five new cities (Nanhui, Songjiang, Jiading, Qingpu, Fengxian New Town) Supply intensity; adhere to the real estate and land linkage mechanism, guide enterprises to rationally acquire land, and stabilize land prices.
Strengthen real estate market monitoring, correctly interpret real estate market control policies and measures, stabilize market expectations, and guide reasonable housing consumption; increase the investigation and punishment of fabricated rumors to disrupt market order and spread false information to mislead market expectations.
The Shanghai Municipal Party Committee and Municipal Government have always attached great importance to the well-being of housing and people’s livelihood, resolutely implement the main responsibility of the city, based on the housing and livability of the general public, and plan the housing development of the "14th Five-Year Plan". The development of rental housing, increase the effective supply of rental housing, improve the long-term rental policy, stabilize the supply of affordable housing, and meet the housing needs of citizens through multiple channels; and through accelerating the transformation of old districts, urban villages, and the installation of elevators and existing multi-storey housing The construction of beautiful homes in residential quarters and other methods will simultaneously improve the quality of residents' living.
(Liang Zhiwei, CCTV reporter)