Reporter Su Xianggao Yang Jie

  At present, there is a new round of adjustment of real estate policies in various places. In addition to further reducing the down payment ratio for the first home, the down payment ratio for the second home is also lowered.

On August 16, a reporter from "Securities Daily" learned through interviews with a number of banks, real estate agencies and other institutions that after the adjustment of the mortgage policy, the number of consumer home purchase consultations in many places has increased.

  Mingming, chief economist of CITIC Securities, told reporters that the loosening of the housing purchase policy can substantially reduce the burden on residents and support rigid and improved housing demand; at the same time, it will help homebuyers to recover their expectations and confidence in home buying, encourage residents to increase leverage, and stabilize real estate sales. , and further policy support is needed in the future.

  Adjust the down payment ratio for home purchases in many places

  Recently, many regions including Chengde, Huizhou, Zhanjiang, Shanwei, Suzhou and other regions have adjusted the down payment ratio for house purchases.

For example, for commercial personal housing loans for residential households purchasing ordinary housing for the first time, the minimum down payment ratio has been lowered from 25% to 20% by banking institutions in Zhanjiang, Guangdong.

At the same time, some regions have adjusted the down payment ratio for second homes.

For example, starting from August 15, if you purchase a second set of ordinary self-occupied housing and apply for a housing provident fund loan in the administrative area of ​​Jinan, the minimum down payment ratio will be adjusted from 60% to 40%.

  According to statistics from the China Index, as of the beginning of August, nearly 240 provinces and cities have issued more than 650 policies this year, relaxing real estate control policies in terms of reducing the down payment ratio, increasing talent introduction, granting housing subsidies, and increasing the amount of provident fund loans.

According to its incomplete statistics, from July 1 to August 14, a total of 142 real estate control policies have been issued in many places, including 31 policies related to the down payment of commercial loans.

  Zhang Bo, president of 58 Anju Room Real Estate Research Institute, told a reporter from Securities Daily that the Politburo meeting of the Central Committee clearly pointed out that "the real estate market must be stabilized", and it was mentioned that the policy toolbox should be "used well". Follow-up, especially in cities and regions with weak market boosts, the intensity and coverage of policies have also increased.

From the perspective of the policy toolbox, there is a certain policy space in different cities for down payment adjustment, mortgage interest rate adjustment and purchase restriction optimization to improve demand, and it is expected to be further released in the future.

  Chen Wenjing, the market research director of the Index Division of the China Index Research Institute, told the "Securities Daily" reporter that in the short term, the city-specific policies in various regions are expected to increase. Lower down payment ratio or important direction.

  The number of inquiries about buying a house has increased significantly

  On August 16, the reporter contacted a number of housing agencies, sales offices and banking institutions in the aforementioned areas to learn about the reactions and developments of all parties after the policy was introduced.

  "After the introduction of the new policy of reducing the minimum down payment ratio for the first home purchase in Huizhou to 20%, many peers have received inquiries from customers who need to buy a house." A business staff of a real estate brokerage company in Huizhou, Guangdong told reporters that the current first-time home loan interest rates are generally in the area. It is 4.25%, and some banks are 4.65%, and the situation of each bank varies.

  "After the adjustment of the down payment ratio policy, many people did come to consult."

An agent of a real estate agency in Zhanjiang, Guangdong Province told reporters that the down payment ratio for the first home has dropped to 20%, the down payment ratio for the second home has dropped to 30%, the mortgage interest rate for the first home is 4.45%, and the second home is 5.5%.

  "We have just received a notice that the proportion of first home loan has dropped to 20%, and customers can already apply for it. As long as it is a first home loan, the application is not difficult and there is no need to queue up. The procedures are complete." A relevant business staff of the Xingang branch of a large bank in Shanwei told reporters .

  The business manager of the credit department of a state-owned bank in Jinan City, Shandong Province told reporters that at present, the down payment ratio of the first housing loan and commercial loan has dropped to 30%, and the second housing loan has dropped to 40%, but because the policy has just been issued, The number of clients consulted has not changed much from before.

  A salesperson from a sales office in Xiangcheng District, Suzhou told reporters that after the new mortgage policy was issued, many investors called for consultation.

At present, the down payment ratio for the first home loan has been reduced to 30%, the down payment ratio for those with a mortgage that has been settled has dropped from 50% to 30%, and the ratio of the down payment for those with an unpaid mortgage has dropped from 80% to 60%.

  A salesperson from a sales office in Xinwu District, Wuxi said that the down payment ratio for the first home in the local area has dropped to 30%, and the mortgage interest rate for the first home is 4.25%.

If there is a mortgage in the name, the down payment ratio for the next purchase is 50% to 60%.

  Favorable policies still need to be overweight

  According to the report on the implementation of China's monetary policy in the second quarter of 2022 released by the People's Bank of China, at the end of June, the balance of real estate loans of major financial institutions (including foreign capital) in the country was 53.1 trillion yuan, a year-on-year increase of 4.2%.

Among them, the balance of personal housing loans was 38.9 trillion yuan, a year-on-year increase of 6.2%.

  In Mingming's view, although the year-on-year growth rate of the balance of real estate loans and personal housing loans remained positive, the value still fell to a low level, indicating that the current residents' willingness to increase leverage is not strong, the pace of real estate market repair is still slow, and sales need to be improved.

  At present, increasing the supply of mortgage loans is still one of the important starting points to improve the sales side of the real estate market.

When it comes to increasing the demand for effective loans in the future, it is clearly suggested that at the policy level, on the one hand, it is necessary to avoid “one size fits all” policies. Self-occupied demand provides convenience for house purchase; on the other hand, it is still necessary to reduce the actual loan interest rate by reducing the cost of bank liabilities and deepen the reform of interest rate liberalization, improve the physical financing environment, and reduce financing costs.

For banking institutions, it is necessary to actively control the cost of liabilities and reduce loan interest rates in an orderly manner, while simplifying loan procedures, optimizing the approval process, and reducing the time and cost of business processing; services to enhance market vitality.

  Chen Wenjing said that increasing the demand for effective loans still needs policy efforts, and the demand-side policies still need to focus on reducing the cost of buying a house, lowering the threshold for buying a house, and promoting the release of reasonable demand for buying a house, such as optimizing purchase and loan restrictions, and reducing mortgage interest rates.

On August 15, the central bank's medium-term lending facility (MLF) operation and the open market reverse repurchase operation's winning bid rates both fell by 10 basis points, and short-term housing loan interest rates are still expected to be lowered.

  "A series of policies this year are focused on boosting the real estate market. In the future, more policies may be introduced in terms of mortgage interest rates and targeted support for the population to ensure the smooth operation of the real estate market." Zhang Bo said.

(Securities Daily)