The Politburo meeting of the Central Committee first mentioned "guaranteing the handover of buildings". What will the property market do in the second half of the year?

China New Observation |

　　China News Service, July 29 (Zhongxin Finance reporter Zuo Yukun) The "second half" of the property market in 2022 will have an important tone!

　　The Political Bureau of the Central Committee of the Communist Party of China held a meeting on July 28 to analyze and study the current economic situation and deploy economic work in the second half of the year.

The meeting pointed out that it is necessary to stabilize the real estate market, adhere to the positioning that houses are used for living, not for speculation,

specific policies , support rigid and improved housing needs,

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"Baojiaolou" first entered the content of the Politburo meeting of the CPC Central Committee

　　In the past month, the "loan suspension" of unfinished real estate projects in many places has aroused the attention of all parties to real estate risks.

This meeting is very targeted and clear: to consolidate the responsibilities of local governments, to ensure the handover of buildings, and to stabilize people's livelihood.

　　"The focus of stabilizing real estate has begun to change, from the previous risk prevention and market stabilization, to stabilizing the market, preventing risks and stabilizing people's livelihood." Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, pointed out that "guaranteeing the delivery of buildings" The first time it appeared at the Politburo meeting of the Central Committee, the triggering factor was the hidden danger of real estate risks spreading from real estate enterprises to the downstream areas of livelihood security.

　　"The key to promoting the handover of buildings and stabilizing people's livelihood is to compact the main responsibility of the local government. As for how to compact the responsibility, the way is to make full use of the policy toolbox." Li Yujia believes that under the framework of "one city, one policy" , the effect of local governments to consolidate their responsibilities and make good use of the policy toolbox still needs to be improved.

Data map: A real estate building that has just been constructed.

Photo by China News Agency reporter Zhang Bin

　　"From the presentation of the meeting, the use of the word 'compact' shows that while the emphasis on this risk has increased, there will be full attention to the actual implementation of the local action to resolve the risk." 58 Anju Room Industry Research Institute Branch Dean Zhang Bo also thinks so.

　　"The current policy of guaranteeing the handover of buildings is relatively clear. Local governments, commercial banks and other institutions are closely cooperating, and real estate companies are actively participating in the resumption of work. It is not ruled out that there will be a new round of guarantee handover policies in the second half of the year." Research Director of the Think Tank Center of E-House Research Institute Yan Yuejin believes that there will be positive progress and performance especially in promoting the construction of housing enterprises, resolving the debt pressure of housing enterprises, and safeguarding the legitimate rights and interests of home buyers.

　　In the past week, the China Banking and Insurance Regulatory Commission has stated its position three times, and more than 10 cities have issued policies and measures related to the insurance and delivery of buildings.

On the 25th, the China Banking and Insurance Regulatory Commission held a system-wide 2022 mid-year work symposium and a disciplinary inspection and supervision work (television and telephone) symposium, pointing out that it supports local governments to do a good job in "guaranteeing and handing over buildings" and promote the stable and healthy development of the real estate market.

　　Chen Wenjing, market research director of the Index Division of the China Index Research Institute, said that after the central meeting set the tone, follow-up measures and supporting funds may be implemented at a faster pace.

Only when the "guaranteed property handover" is advanced as scheduled and the economy recovers steadily, confidence and expectations in the property market can improve, and the market can recover better and stably in the second half of the year.

Data map: Real estate real estate.

Photo by China News Agency reporter Zhang Bin

"Stabilizing the real estate market" takes the lead, "housing and not speculating" remains unchanged

　　Since the positioning of "housing to live without speculation" was proposed in 2016, this meeting continued to clarify that the positioning of "housing to live without speculation" remains unchanged.

　　"More than 100 cities across the country have introduced housing support policies this year to support reasonable housing demand. It is expected that local supportive policies will continue to increase in the second half of the year.

　　It is worth noting that "the expression of 'stabilizing the real estate market' ranks ahead of 'housing, not speculating,'" Yan Yuejin believes that this fully shows that the current contradiction in the real estate market lies in the emergence of unstable factors. Therefore, stabilizing real estate The representation of the market is very instructive.

　　"In the second half of the year, all localities should stabilize the real estate market as the core goal and direction of their work, that is, to eliminate factors that affect the stability of the real estate market and promote the healthy development of the real estate market." Yan Yuejin said.

　　Liu Lijie also mentioned that since the second quarter, the market as a whole has shown good signs of bottom repair, but the recent suspension of loans by some off-plan homeowners and the default of real estate companies' debts have become factors of market instability, which has led to the wait-and-see of the new home market and interfered with market repair. Rhythm.

"The stable development and virtuous circle of real estate are related to economic development and social stability, so stabilizing the property market is the top priority."

Data map: There are many buildings in the city.

Photo by China News Agency reporter Wang Dongming

Continue to support rigid and improving housing needs

　　The meeting noted that support for rigid and improved housing needs.

It is generally believed in the industry that it is expected that the demand support for improvement will increase in the future, which is also related to the issue of implementing policies by city and making good use of the policy toolbox.

　　Chen Wenjing pointed out that the current real estate market is still facing many unstable factors, and the short-term real estate policy optimization and adjustment is expected to increase.

　　"The policy toolbox will include both demand-side support policies. In addition to lowering the threshold for house purchases and lowering the cost of house purchases such as purchase restrictions, loan restrictions, and sales restrictions, deed tax subsidies, housing subsidies, and the issuance of consumer coupons have also increased efforts to promote housing consumption. Space." Liu Lijie believes that in the future, more emphasis will be placed on supply-side policy support, such as the optimization of pre-sale fund supervision, and the rescue policy for housing companies.

　　"In the past, the initiative to relax policies in various regions was emphasized. In the first half of the year, there were many innovations in demand in various regions, including first and second homes, new and second-hand houses, as well as talents, migrant workers, new citizens, three-child families, college students and other levels. Very good policies have been implemented." Yan Yuejin believes that the second half of the year will be a process of consolidation, digestion, refinement and realization of policy tools.

　　"In the first half of the year, the real estate policy was intensive but the effect was weaker than expected. Therefore, in the second half of the year, we should 'use enough and make good use' of the policy to maximize the effect of the policy and promote the healthy development of the real estate market." Yan Yuejin said.

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