How to boost confidence and reverse expectations?
It is also necessary to introduce and adjust real estate control policies based on city-specific policies, increase credit support, and reduce the cost of taxes and fees in transaction links.
These measures will help to better meet rigid and improving demand and activate market transaction volume.
With the release of economic data in the first half of the year, the development overview of various industries in the first half of the year is also clearer.
The real estate market is in a very stalemate in the first half of 2022.
Affected by the spread of the epidemic, many urban real estate markets have encountered resistance in the process of stabilizing, but there are also some urban markets that are showing signs of recovery as the middle of the year approaches.
In the first half of the year, the policy warm wind was blowing frequently, and many cities intensively introduced regulatory policies, which was impressive.
The real estate market in many cities is facing downward pressure. In the context of stabilizing growth in a more prominent position, various localities have implemented city-specific policies to promote a virtuous circle and healthy development of the real estate industry, aiming to play the role of stabilizing the property market in stabilizing the economy.
The meeting of the Political Bureau of the Central Committee held on April 29 made it clear that all localities should be supported to improve real estate policies based on local realities, and support rigid and improved housing needs.
In the first half of the year, the credit policy was adjusted and the mortgage interest rate was lowered to reduce the cost of buying a house, which to a certain extent encouraged many people on the sidelines to buy a house in a timely manner.
Various localities have actively taken control measures including reducing down payments, canceling "recognizing housing and subscribing for loans", relaxing purchase restrictions, relaxing sales restrictions, shortening the VAT exemption period for personal housing transfers, and launching housing ticket resettlement in shanty towns, aiming to boost market expectations. , to better meet the residents' rigid and improved housing needs, and promote the healthy development of housing consumption.
Real estate development companies have even come up with promotional methods such as wheat, rice, watermelon and other crops to pay for the house, which reflects the urgency of individual cities and real estate development projects to sell the money as soon as possible.
The policy effect is gradually emerging.
Data from the National Bureau of Statistics showed that the sales price of commercial housing in June generally stabilized month-on-month.
Among the 70 large and medium-sized cities, 31 and 21 cities saw a month-on-month increase in the sales prices of new commercial housing and second-hand housing, an increase of 6 from the previous month.
According to estimates, in June, the sales area and sales of newly built commercial housing across the country both increased by more than 65% month-on-month, and the growth rate was significantly higher than that of the previous month.
In June, Chengdu led the rise among 70 large and medium-sized cities with a month-on-month increase of 1.3% in newly-built commercial housing prices and a 2.0% month-on-month increase in second-hand housing prices.
It is undeniable that the current real estate market is still facing some contradictions and difficulties when it stabilizes and rebounds.
The division between cities is still very obvious.
While the sales volume and price of real estate in some cities are picking up, the market in many cities is still in a downward range.
The current overall volume is still at a low level.
Real estate development companies still occasionally default on their debts, and individual real estate development projects have delayed delivery due to funding problems.
These situations have affected the confidence and expectations of home buyers to the market to a certain extent.
Some people think that the real estate market has bottomed out in the short term, but the recovery will be a slow and gentle process, and the market will stay at the bottom for longer than in past cycles.
How to boost confidence and reverse expectations?
It is also necessary to introduce and adjust real estate control policies based on city-specific policies, increase credit support, and reduce the cost of taxes and fees in transaction links.
These measures will help to better meet rigid and improving demand and activate market transaction volume.
In the first half of the year, the supervision of real estate pre-sale funds has attracted much attention.
Pre-sale funds are an important source of funds for real estate development companies to carry out project development. At the same time, strengthening the supervision of pre-sale funds to prevent pre-sale funds from being misappropriated in violation of regulations is also an important factor to avoid unfinished buildings and protect the legitimate rights and interests of home buyers. action.
In January this year, the Ministry of Housing and Urban-Rural Development, the People's Bank of China and the China Banking and Insurance Regulatory Commission jointly issued the "Opinions on Regulating the Supervision of Pre-sale Funds for Commercial Housing".
The Politburo meeting held on April 29 requested to optimize the supervision of pre-sale funds for commercial housing.
The supervision of pre-sale funds for commercial housing should be stricter and more detailed, which not only plays a role in stabilizing the source of funds for housing enterprises, optimizes the expenditure and use process, and is convenient to use; it must also realize special funds under strict supervision.
For example, some provinces have clear regulations on the supervision of pre-sale funds, and if they are key supervision funds, they shall not be used to pay the principal and interest of other borrowings (loans) and to pay land prices.
The completion and delivery of real estate projects should be effectively guaranteed, the legitimate rights and interests of home buyers should be well protected, and risks in the real estate sector should be prevented and reduced.
In the medium and long term, the overall demand of my country's real estate market is expected to become an important support for the stable and healthy development in the future.
There is structural potential in the real estate market, especially in cities with net population inflows and cities with a higher level of economic development, and demand will remain active.
Industry experts predict that the commercial housing market will still maintain an annual transaction scale of 1.2 billion to 1.5 billion square meters in the medium and long term.
The research of the Shell Research Institute also believes that in the next 15 years, the housing demand will still exceed 20 billion square meters.
Kang Shu